A slight increase in the index and higher trading volume marked the week on the Montenegro Stock Exchange, during which the European Bank for Reconstruction and Development (EBRD) lowered its growth forecast for Montenegro’s economy to 2.6 percent this year.
The MNSE10 index, which tracks the value of the ten largest companies on the Montenegro Stock Exchange, rose slightly to 1,165.41 points. The MONEX index also strengthened to 17,396.05 points.
Trading volume reached 78,460 euros, which was 2.7 times higher than the previous week.
The EBRD stated that this forecast is 0.3 percent lower than in February, when it predicted a 2.9 percent economic growth.
In its latest report, which the Mina-business agency reviewed, the EBRD predicts Montenegro’s economy will grow by 2.7 percent next year, also 0.3 percent lower than the 3 percent forecast made in February.
According to the EBRD, Montenegro’s economy grew by 3 percent last year.
Shares of Plantaže rose 4.7 percent to 18 euro cents, and Jugopetrol increased by 1.7 percent to 15 euros.
Shares of Crnogorski Telekom and the Montenegrin electricity transmission system operator (CGES) declined by 0.9 percent to 2.3 euros and 1.16 euros, respectively.
Shares of Elektroprivreda Crne Gore (EPCG) remained stable at last week’s price of 5.36 euros. The company announced that the average electricity bill for households in Montenegro in April, excluding unread meters in non-permanently inhabited properties, was 32.15 euros.
Households in Žabljak recorded the lowest average electricity consumption, with bills averaging 20.38 euros, while the highest average consumption was recorded in Tivat, where households used electricity worth 39.44 euros, EPCG stated.
Shares of Hipotekarna Banka and Port of Adria remained unchanged at 9.55 euros and 27 euro cents, respectively.
This week, the government approved a restructuring plan for the Institute “Simo Milošević,” which defines specific measures needed to ensure the long-term sustainability of the institution and its operation according to modern economic and healthcare standards.
Government officials noted that an analysis of the institute’s current situation showed that all other market options have been exhausted, making state intervention necessary to secure its long-term viability and preserve its role of general economic interest.
The restructuring plan is based on several key principles, the primary one being the preservation of the Igalo Institute as a crucial healthcare institution in Montenegro, significant not only for the country’s healthcare system but also for its health tourism sector.
The week was also marked by the announcement that ten bids were submitted for the tender to design and construct the second section of the highway from Mateševo to Andrijevica.
The tender for this highway section was announced on February 28 on the EBRD website and was initially open until April 29 but has now been extended to May 14.
The ten companies included in the MNSE10 index reported a combined net profit of 67.68 million euros at the end of last year, according to data from the Montenegro Stock Exchange.
The net profit of these so-called blue-chip companies included in the MNSE10 index reached 110.21 million euros at the end of 2023.
However, the net results of these companies fell by 38.59 percent compared to the previous year.
The largest net profit growth last year was recorded by Plantaže, Napredak Kotor, and Hipotekarna Banka.
The highest absolute net profits were earned by CGES with 24.83 million euros, Hipotekarna Banka with 18.46 million euros, and Elektroprivreda with 10.96 million euros.
