Montenegro BusinessNewsMontenegro, A drop in the index and million turnover marked the week on the Stock Exchange

Montenegro, A drop in the index and million turnover marked the week on the Stock Exchange

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A drop in the index and million turnover marked the week on the Montenegro Stock Exchange, in which it was announced that the state earned EUR 916 million from tourism in nine months.

The value indicator of the ten best companies MNSE10 weakened by 2.8 percent to 893.37 points, and MONEX by 1.2 percent to 12,642.21 points.

Turnover, realized through 22 transactions, amounted to EUR 1.08 million and was 2.1 times higher than last week’s. Lovćen banka’s shares had the largest share in turnover, 93.86 percent.

The Minister of Economic Development and Tourism, Goran Đurović, said that this year should be a record year when it comes to the balance sheets and turnover of Montenegrin companies. He added that Montenegro must turn to development projects because it has enormous potential.

In an interview with the Mina-business agency, he said that according to all forecasts and parameters, Montenegro recorded a 7.7 percent economic growth this year.

“It is a fantastic growth. I responsibly claim that this will be one of the best years in terms of the balance sheet and turnover of our companies in general. The year is ending and very soon all the balance sheets will be available, so we will see, but I think we will witness a record year in terms of turnover in our companies”, said Đurović.

The shares of Hipotekarna banka fell 16.7 percent to EUR 5.1, and Solane “Bajo Sekulić” fell 6.6 percent to EUR 1.55.

The share of Crnogorski Telekom grew by 4.3 percent to EUR 1.7, and the Hotel Tourism Company (HTP) Ulcinjska Riviera rose slightly to EUR 3.5.

The share of Elektroprivreda (EPCG) remained at last week’s 3.21 EUR, as well as the Montenegrin Elektroprenosni sistem (CGES) at 91 cents.

Zetatrans shares remained at 95 cents, and Hotel Group (HG) Budvanska Riviera at 6.5 EUR.

This week, the first auction of the year with a maturity of 182 days was held, where government bills were sold for EUR 20.5 million, at an average rate of 3.18 percent.

The total nominal value of the issue of government bills was EUR 30 million, while the bids submitted were worth EUR 43.5 million. The amount of accepted offers was EUR 20.5 million.

The maturity date of government bills is May 24 of the following year.

The Montenegrin Electricity Distribution System (CEDIS) announced that they strongly support the policy of the EPCG management not to increase the price of electricity for citizens, and that company, as announced, will not ask for an increase in the components of the electricity bill.

The president of the CEDIS Board of Directors, Rajko Radošević, said that it is in the company’s interest to protect citizens and to act in accordance with the pragmatic business policy of that company.

The regulator announced that CEDIS did not initiate the reduction of revenues that it requested on August 31 from the Regulatory Agency for Energy and Regulated Utilities (REGAGEN).

“As of November 24th, CEDIS has not initiated the revenue reduction that it requested from REGAGEN on August 31st. On the contrary, in the previous period, both during this process and during the process of developing the Methodology that governs this process, CEDIS dedicatedly and persistently submitted suggestions, explanations and documentation in order to enable higher revenues for that company”, according to REGAGEN’s press release.

The Trend share remained at last week’s 5.3 cents, local media writes.

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