Stock indexes rose while trading volume declined on the Montenegro Stock Exchange during the week in which it was announced that EPCG’s executive director, Ivan Bulatović, was dismissed by the company’s Board of Directors.
The MNSE10 index, which tracks the ten leading companies, and the broader MONEX index both increased by around 3%, reaching 1,187.18 and 18,272.36 points respectively. Total turnover amounted to about 77,310 euros, down 21% compared to the previous week.
EPCG shares rose nearly 13% to six euros after the Board appointed Bojan Đordan, former head of the Directorate for Renewable Energy Sources, as acting executive director. Bulatović had been appointed to the position in January last year. The company said the decision followed internal procedures to ensure management continuity and ongoing investment activities.
Among other major movers, Izbor Bar shares climbed 16.3% to 0.41 euros, Plantaže rose 6.3% to 0.17 euros, and Jugopetrol gained slightly to 15.25 euros. Decliners included Željeznički prevoz (down 20% to 1.36 euros), Budvanska rivijera (down 13.2% to 7.81 euros), and CGES (down slightly to 1.16 euros).
Monteput and the European Bank for Reconstruction and Development extended the deadline for submitting technical and financial bids for the design and construction of the second section of the Bar–Boljare highway, from Mateševo to Andrijevica, to October 30. The company said the extension was due to the complexity of the tender documentation and to ensure transparency and equal opportunity for all participants.
Crnogorski Telekom shares remained unchanged at 2.35 euros. Meanwhile, Montenegro’s top prosecutors did not attend a parliamentary hearing regarding the Telekom privatization case. The session was scheduled to review prosecutorial actions related to the dismissal of charges of abuse of office, bribery, and organized crime.
In September, total trading volume on the Montenegro Stock Exchange reached 632,270 euros, a 70.6% decrease compared to August and 4.2% lower than in September last year. The average daily turnover was 28,740 euros across 22 trading days and 101 transactions. Turnover on the prime market amounted to 239,660 euros across 34 transactions, while the standard market recorded three trades worth 4,260 euros.
