February 6 (SeeNews) - Montenegro Stock Exchange's total market capitalisation rose 2.16% year-on-year to 3.045 billion euro ($3.468 billion) in 2018, as average daily turnover increased to 596,581 euro from 192,127 euro in 2017, the bourse said.
The blue-chip index of the Montenegro Stock Exchange, MNSE10, closed 2018 at 837.08 points, up 7.77%, while the benchmark MONEX index, which tracks the 20 most representative shares on the stock market, rose by 6.54% to 10,840.49 points.
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The bourse's total turnover rose to 147.4 million euro in 2018 from 47.5 million euro in 2017 due to the one-off effect of block deals in shares of power utility Elektroprivreda Crne Gore [MNG:EPCG], the Montenegro Stock Exchange said in its 2018 Annual Report published on Tuesday.
Block deals in EPCG's shares contributed 120.6 million euro to last year's turnover, the bourse said.
In May, Montenegro's government repurchased 13,052,876 EPCG shares from Italian utility A2A in a block deal. In September, the government bought back a second portion of 13,052,876 shares from the Italian company.
Oil products distributor Jugopetrol [MNG:JGPK] generated the highest turnover of 3.1 million euro among the blue chips on the Montenegro Stock Exchange in 2018, while the highest number of trades, 320, was carried out with shares in Crnogorski Telekom [MNG:TECG].
($ = 0.877864 euro)