The Montenegro Stock Exchange had a week marked by a decline in indexes and trading volumes, following the suspension of the parliamentary session by the President of the Assembly, Andrija Mandić. The session was initially intended to discuss the adoption of the proposed budget for the next year.
The MNSE10, which tracks the value of the ten best companies on the exchange, dropped nearly 1% to 1,083.03 points, while MONEX declined by 0.4% to 16,268 points. This week’s trading volume amounted to €147,410, which was 1.8 times lower than the previous week.
The suspension of the parliamentary session means that the budget for the next year will not be adopted, and temporary financing will be implemented instead. The session was interrupted after opposition members blocked it for the third time due to dissatisfaction with the Constitutional Committee’s decision regarding the retirement of constitutional court judges.
The Office of Prime Minister Milojko Spajić stated that the failure to adopt the budget threatens the payment of increased pensions, the realization of capital projects, and the settlement of old debts. They emphasized that adopting the budget is crucial for pension increases under the “Europe Now 2” program and for economic development, including European reforms aimed at improving citizens’ standards.
Shares of several companies saw a decline. Kotor’s Napredak fell by 13.5% to €0.048, Plantaže dropped by 0.5% to €0.185, and the shares of the Montenegrin Transmission System (CGES) fell by 0.7% to €1.38. Jugopetrol shares decreased by 6.3% to €14.05. Jugopetrol announced preparatory work for the reconstruction of its oil products storage terminal in Bar, with an estimated investment of €9 million. This project aims to reduce carbon dioxide emissions and gasoline vapor, contributing to a sustainable and eco-friendly future.
On the other hand, shares of the “Simo Milošević” Institute surged by 33.1% to €24.22. The Institute stated that it would be closed for users from this week, with operations resuming in the first week of February for maintenance and preparation for the next season.
Shares of Elektroprivreda (EPCG) rose by 2.6% to €5.50. The company opened a new branch in Zeta, offering improved customer service and information on services such as bill payments and agreements for debt settlements.
Montenegro Telecom’s shares increased by 0.5% to €2.16, while Montecargo’s shares saw a slight rise to €0.262. Shares of the Institute for Ferrous Metallurgy and Nikšić Wholesale remained unchanged at €1 and €25, respectively.
