February 2011
Stock Exchange Indices During 2010, all three indices experienced similar trends: a slight increase followed by small fluctuations until the middle of April when they all started to decrease.
NEX 20
Graphic 10. NEX 20 15,500
The highest value reached by NEX 20 during 2010 was recorded on March 1st at a level of 15,165 points and the lowest value was recorded on June 28th at a level of 12,736 points.
15,000
Table 3: Brokerage
14,500
Brokers at the Capital Markets
13,500
Variations in index value influenced all of the changes shown by the shares represented in this index, especially those belonging to the Electric Power Company and to Telekom Montenegro.
Influences on the value of the index during 2010 resulted in a trend that was evident in all six privatization investment funds.
3M broker - dealer
3M
4.07
Bull&Bear broker - dealer
BB
4.55
12,000
CG broker
CG
16.93
Global broker - dealer
GB
1.06
Invest banka Montenegro
IB
0.84
Marketiva broker - dealer
BS
0.12
8,000
Holder broker - dealer
HO
10.97
7,000
Market broker - dealer
MB
3.03
6,000
MB broker (closed)
MR
0.66
Moneta broker - dealer (closed)
MO
8.52
Jan-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10
Oct-10
Nov-10
Dec-10
Graphic 11. NEX PIF
5,000
4,000
3,000
2,000
1,000
0 Dec-09
MOSTE The value of the Montenegro Security Exchange, MOSTE, upon which MSE’s 35 most liquid companies are traded, also showed a similar trend to the one outlined as being evident in the previous two indices. The highest value for MOSTE during 2010 was on February 18th, with a total of 624 points, whilst the lowest point recorded was on October 21st with a total of 459 points. The various trends evident in the MOSTE Index were influenced by price fluctuations that were seen in most shares (Plantaze AD Podgorica, Prenos AD Podgorica, Port of Bar AD, etc).
Privatization - Investment Funds on the Stock Exchange The total volume of trade involving PIF shares during 2010 amounted to €7.9 million, which was 17% lower when compared with the figures recorded during 2009 (about €9.5 million in trade volume). In total there were 4,587 transactions which involved a total number of 152.7 million shares taken from all six PIFs.
Jan-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10
Oct-10
Nov-10
Dec-10
Graphic 12. MOSTE
Monte Adria broker - dealer
MA
2.58
Monte broker
MN
5.86
MV broker (suspended)
MV
0.21
NK broker
NK
2.01
Nove broker
NO
1.26
Onyx broker
OX
1.51
VIP broker - dealer
VP
12.82
700
Partner broker
PR
0.94
600
PG broker
PB
3.76
First Financial Securities broker - dealer
FF
0.43
Hypo Alpe Adria Bank
HP
8.53
Hipotekarna banka
HI
9.33
500
400
300
200
Source: Nex Stock Exchange, Montenegro Stock Exchange
100
0 Dec-09
Jan-10
Mar-10
Apr-10 May-10
Jun-10
Jul-10
Aug-10
Sep-10
Oct-10
Nov-10 Dec-10
Graphic 13. Turnover and number of PIFs shares 3,000,000
85,585,274
90,000,000
2,805,981
2,647,204
80,000,000
2,500,000 70,000,000 2,000,000
60,000,000 50,000,000
1,500,000 40,000,000 1,000,000
926,511
30,000,000 28,063,173 529,687
The most actively traded shares during this period were HLT, whilst the least traded were MIG shares
Share in the turnover (%)
12,500
Dec-09
The value of this index showed a similar trend to NEX 20 during 2010. It reached its highest level on April 22rd with a total of 7,438 points and the lowest point was recorded on December 3rd with a value of 5,300 points.
ID
13,000
11,500
NEX PIF
Houses
14,000
11,937,053
381,773
374,197
500,000 14,653,676
10,000,000 6,887,197
5,604,178
0 Atlas Mont
Eurofond
20,000,000
HLT Volume
MIG Shares
Moneta
0
Trend
13