The growth of index and turnover marked the week on the Montenegro Stock Exchange in which the funds earmarked for the first tranche of payment from the energy package of the European Commission (EC) were paid to Montenegro.
The value Indicator of the ten best companies MNSE10 and the MONEX index strengthened by 1.5 percent to 1,047.28 points, or slightly to 14,763.4 points. The turnover amounted to EUR 616.18 thousand and was more than 17 times higher than last week.
The Ministry of Capital Investments told the Mina-business agency that it is about EUR 27 million. On March 8, the implementation of the European Union (EU) Energy Support Package for Montenegro, worth a total of EUR 30 million, was officially launched in Podgorica, with the aim of helping the country transition to green energy, but also to support vulnerable categories of the population to cope with increased costs. Of life caused by the war against Ukraine.
The first tranche of 27 million was made available to Montenegro for assistance to more than 45 thousand Montenegrin citizens. Then it was announced that the payment of the second tranche, in the amount of three million EUR, is expected at the beginning of the next year. Through this package, 40.55 thousand beneficiaries of the lowest pension, 219 beneficiaries of temporary compensation from the Pension and Disability Insurance Fund (PIO) and 454 beneficiaries of monetary compensation for the material security of veterans will receive EUR 150 assistance. Also, 6.35 thousand families, which are beneficiaries of material family security, will receive EUR 350 each.
The shares of Hipotekarna banka grew by 19.6 percent to EUR 6.1, Crnogorski Telekom eight percent to EUR 1.75, Montenegrin Electric Transmission System (CGES) seven percent to EUR 1.07, and St. Stefan hotel 4.6 percent to EUR 3.9 EUR.
Plantaže shares fell by ten percent to 26.1 cents and Luke Bar by 7.9 percent to 70 cents.
Port of Adria shares fell 7.4 percent to 29.17 cents. The Government’s negotiations with the Turkish company Global Ports on the purchase of their 62 percent stake in the Port of Adria have been formally going on for three months, and the Ministry of Finance is analyzing in detail the operations, balance sheets and huge number of court cases of that bar company. Global Ports bought the majority ownership in the then Container Terminals at the beginning of 2014 for eight million EUR. The problem is that since then the company’s operations have drastically deteriorated, writes Vijesti. The Port of Adria did not respond to the newspaper’s questions about the negotiations, nor about the company’s operations.
According to the balance sheets, the company had an accumulated loss of EUR 14 million at the end of 2013, and at the end of last year it amounted to EUR 36.4 million. When they took over the company’s long-term liabilities – the debts amounted to EUR 1.3 million, and now they are EUR 25.8 million.
Short-term liabilities for nine years increased from EUR 2.1 to EUR 6.6 million. In the meantime, the number of lawsuits against the company has also increased, ordered by workers who have already won part of the disputes, and the total possible compensation for these lawsuits, according to the union’s calculations, amounts to EUR 13 to 15 million.
The share of Hotel Group (HG) Budvanska Riviera fell 4.1 percent to seven EUR, in the week in which the company announced that, after two years of operating at a loss, it achieved a positive business result in the amount of EUR 602.56 thousand last year. At the session, the board of directors established that compared to the business year 2021, a better result was achieved by as much as EUR 2.84 million.
“Total revenues last year amounted to EUR 19.53 million and are 64 percent higher than the revenues achieved in 2021. All hotels in the hotel group achieved an increase in revenues,” the statement added.
Shares of Elektroprivreda (EPCG) fell 1.2 percent to EUR 5, while Jugopetrol shares remained at last week’s EUR 12.6. The shares of Eurofund strengthened by 14.3 percent to 0.16 cents, while Trend remained at 5.3 cents.
The week was also marked by the start of the Stop Inflation campaign, which is being implemented by the Ministry of Economic Development in cooperation with trade chains in the country. We are talking about the companies Voli, Mercator, Laković, Domača trgovina (Aroma, City, Conto), Franca and Megapromet. Martex also joined the action.
Starting this week, citizens can buy more than 25 products at minimum prices. The anti-inflationary basket was formed in such a way as to contain at least one item from each of the 25 types of agreed products. The Minister of Economic Development and Tourism, Goran Đurović, said that supermarkets responded to the action with a larger number of products than the Government requested.
The selection of the specific Item from the defined type of product is done by the trader himself and forms the price in accordance with the previously reached agreement with the Ministry. The trade margin in retail should not exceed five percent, while the trade margin in wholesale is also limited to five percent. The reduced prices In accordance with the agreement on the anti-inflation basket are expected to come into effect today and last until the end of April, after which the promotion will be extended until June 1 with the possibility of exchanging items.
