Assembly Biosciences presents Phase 1a data for ABI-5366, ABI-1179
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CNBC
19 hours ago
- CNBC
Architecture firms report decline in billings for commercial real estate
Architecture firms are reporting a drop in billings as concerns about the broader economy and tariffs impact commercial real estate development and spending. The AIA/Deltek Architecture Billings Index (ABI) remained in negative territory in June with a score of 46.8, down from 47.2 in May. Anything below 50 is considered negative sentiment. "Business conditions were soft nationwide in June, with a slight billing increase in the South for the first time since October," said Kermit Baker, chief economist at AIA, the American Institute of Architects. "Other regions saw declining billings, though at a slower pace. While all specializations experienced softer billings, the decline slowed for commercial/industrial and institutional firms. Multifamily firms faced the weakest conditions, with further declines." CNBC's Property Play with Diana Olick covers new and evolving opportunities for the real estate investor, delivered weekly to your inbox. Subscribe here to get access today. One bright spot was inquiries into new projects, which increased for the second consecutive month and grew at the strongest pace since last fall with a score of 53.6. This suggests that clients are starting to send out requests for proposals and will start working with architecture firms on potential projects. AIA notes that these inquiries do not necessarily translate into actual projects. The value of newly signed design contracts also fell for the 16th straight month. Billings are not likely to improve until the value of these new design contracts also sees gains. The AIA also put out its midyear forecast: The AIA forecasts that overall spending on nonresidential buildings, not adjusted for inflation, will increase only 1.7% this year and grow very modestly to just 2% next year. Spending on the construction of manufacturing facilities, which had been a bright spot in recent years, is now expected to decline 2% this year, with an additional drop of 2.6% next year. Institutional facilities are expected to be the strongest sector with projected gains of 6.1% this year and another 3.8% in 2026. In addition to a slowing economy, unclear and constantly changing tariff policy is creating growing uncertainty in the architect, engineer and construction services industry. "Not knowing what products will cost in the future, whether they will be available, how these changes might affect their supply chain, and whether they will provoke a trade war with the exporting countries are all questions that the AEC industry is asking before proceeding with planned projects," according to the report.
Yahoo
20 hours ago
- Yahoo
Storms and heavy rainfall driving up property insurance payouts
Some £1.6 billion worth of property claim payouts were made by insurers in the second quarter of this year, according to the Association of British Insurers (ABI), with adverse weather driving a significant portion of claims. The total, to help homeowners and businesses bounce back from incidents which also include fire and theft, marks a 7% rise compared with the first quarter of 2025. Between April and June, insurers paid out £322 million for damage caused by storms, heavy rainfall and frozen pipes. Of this, £198 million covered damage to people's homes and possessions, while weather-related business claims totalled £124 million. The average property claim was £6,200 for households and £17,400 for businesses. The annual average price of combined building and contents home insurance in the second quarter of 2025 was £391, £2 lower than the previous quarter, but £1 more compared with the same period in 2024, the ABI said. The average price of buildings-only insurance was down by £1 on the previous quarter, at £321. This was £4 higher compared with the same period in 2024. The typical price of contents-only insurance in the second quarter of 2025 dropped to £129 – £2 down on the previous quarter and £7 lower than the average price paid in the second quarter of 2024. Mark Shepherd, head of general insurance policy at the ABI, said: 'Our latest figures emphasise the vital protection insurance continues to offer people and businesses. 'They also underscore the growing impact of adverse weather on communities across the UK. 'With climate change making such events more severe and frequent, prevention must become a much greater part of the solution.' Louise Clark, manager of general insurance policy at the ABI, said: 'Flooding and storm damage can be deeply distressing and disruptive. 'While we can't control the weather, small preventative steps can go a long way in protecting our homes and reducing the fallout. 'Clearing gutters, securing roof tiles, fixing any leaks, repairing cracks in doors and windows, and fitting flood gates or airbrick covers where needed, all help limit physical damage when bad weather strikes. 'It's also important to stay on top of your insurance. 'Reviewing your policy regularly, checking with your provider if you're unsure what's covered, and keeping your home in good repair are essential to ensuring you're fully protected when the unexpected happens.'
Yahoo
3 days ago
- Yahoo
The Straits Times Index Has Cracked the 4,200 Level: Is There Room for Further Gains?
The Straits Times Index (SGX: ^STI) posted a sterling performance year-to-date (YTD) as it broke multiple record highs. Earlier this month, the bellwether blue-chip index crossed the 4,000-mark for the first time as it recovered from April's tariff announcement. Just this week, the index has shot past the 4,200 level and shows no sign of stopping. Can this rally sustain, or should investors stay cautious for now? We unpack these developments to bring you some insights. A broad-based rally The surge in the STI is impressive, but investors may be surprised to note that the three local banks are not responsible for the bulk of this rise. DBS Group (SGX: D05), which occupies the largest weight within the STI at 25.1%, saw its share price increase by a little under 10% YTD. *Note: All weights are as of 31 March 2025. The next largest index component, OCBC Ltd (SGX: O39), takes up 16.3% of the index while Singapore's third largest bank, United Overseas Bank (SGX: U11) or UOB, had a weight of 12.4%. OCBC's share price increased just 3.4% YTD while UOB's shares inched up 1.9% YTD. Hence, it's clear that the banks have not contributed much to the index's stellar performance. So, the question is – which stocks did the heavy lifting this time? One example is Singapore Technologies Engineering (SGX: S63). The engineering firm's shares soared 77.9% YTD to hit S$8.27. Several other blue-chip stocks also posted strong share price gains. Property developers did well, with UOL Group (SGX: U14) surging 34.9% YTD and Hongkong Land (SGX: H78) soaring 42.9%. Sembcorp Industries (SGX: U96) leapt 41.8% YTD while Singapore Exchange (SGX: S68) saw its shares increase by 26.2% YTD. Local telco Singtel (SGX: Z74) also posted a strong performance with its share price jumping 33.7% YTD. Awaiting the banks' results These performances were achieved even when there were no major corporate announcements or earnings results. This suggests that the optimism could be related to the recent announcement of a large, S$1.1 billion capital injection by the Monetary Authority of Singapore to revitalise Singapore's stock market. There could be room for the rally to continue if the banks do report robust results. OCBC will report on 1 August while both DBS and UOB will announce their first half and second quarter earnings on 7 August. With interest rates set to hover 'higher for longer', the lenders could enjoy an unexpected tailwind if they can maintain their net interest margins. Fee income should also stay strong with wealth inflows into the region along with buoyant credit card spending. As for the rest of the STI's components, investors will also be keeping a close eye on their business updates and earnings announcements as the earnings season gets underway. Strategic reviews to unlock further value A catalyst that could take share prices higher is strategic reviews and long-term plans announced by several blue-chip players. Some companies also communicated their long-term objectives via Investor Day sessions that give investors a clearer idea of what to expect. For instance, ST Engineering released its Investor Day 2025 slides earlier this year and came up with another set of ambitious targets for 2029. The engineering giant also announced a progressive dividend policy that will add an incremental dividend based on one-third of the year-on-year increase in net profit from 2027 onwards. Hongkong Land also announced its strategic review late last year and has followed through with it by posting a higher year-on-year dividend for its 2024 results. Sembcorp Industries went a step further. The utility and urban development group not only announced its 2028 targets during its Investor Day 2023, but also announced a corporate reorganisation earlier this year. These developments injected a much-needed dose of optimism as investors witness clear progress towards attaining these goals. Singtel also reported a higher year-on-year dividend for fiscal 2025 and announced a S$2 billion share buyback programme to unlock more value for shareholders. Investors will be closely scrutinising the upcoming earnings season to determine if these companies can continue to report higher profits, free cash flow, and dividends. Get Smart: Monitor the business closely If you are afraid of a pullback in the STI, you are not alone. Some investors have expressed doubts about whether this surge is sustainable. One piece of good advice is to monitor the business behind the stock. If the business does well, the share price should naturally follow. Singapore's stock market is on a historic run, but can it last? We'll explore where interest rates are heading, whether blue-chip earnings can keep growing and more. Get the clarity you need — sign up now for our free webinar. When the market is unpredictable, where can you park your money with confidence? Our latest FREE report reveals 5 Singapore dividend-payers built to withstand global storms. Get it now and see what's still worth holding. Follow us on Facebook, Instagram and Telegram for the latest investing news and analyses! Disclosure: Royston Yang owns shares of DBS Group and Singapore Exchange. The post The Straits Times Index Has Cracked the 4,200 Level: Is There Room for Further Gains? appeared first on The Smart Investor. Sign in to access your portfolio
