Thu 28 August 2008


US stocks rose Wednesday in light volume on signs of growth in some corners of the economy, although the market closed off its highs amid fears of a potential hurricane. The market received a lift from a report that sales of capital goods picked up in July, although the formerly weak dollar may have buoyed exports. The anticipated trajectory of now-Tropical Storm Gustav cuts right through the clusters of energy platforms and refineries around the Gulf of Mexico. That boosted the price of oil, and more markedly, the shares of oil refiners, which can benefit from capacity restraints. The halt in oil's downdraft this week has interrupted the resurgence of airlines and consumer-discretionary stocks. The Dow Jones Industrial Average rose 89.64 points (0.79%) to 11,502.51, and it had been up 142 points at the peak. In economic news, orders for durable goods unexpectedly rose 1.3% last month to a seasonally adjusted $219.26bn, a second consecutive surge. Some of the jump was due to stronger demand for aircraft, but excluding transportation bookings, orders still rose 0.7%.

Lead was the outperforming metal traded on the London Metal Exchange Wednesday with the complex as a whole ticking up after profit taking took prices lower at the start of the week. Gold rose in reaction to strength in crude oil and the euro, analysts said. Spot gold was last quoted at $826.20. Crude oil settled higher as Tropical Storm Gustav remained on track to enter the Gulf of Mexico, potentially as a major hurricane. West Texas Intermediate was last quoted at US$118.15 per barrel. The dollar saw a corrective decline against the euro Wednesday after reaching a six-month high a day earlier, but fresh data due Thursday on US economic growth may put the dollar back on top again. The Australian dollar was last quoted at US$0.8583, 0.5831 euros, 94.01 yen and 46.78 pence.

Join our Member's Area today!

   Welcome

News

New Members Area

DJC is proud to annouce the launch of our New Members Area. The old one will remain available for the forseeable future (only for exisiting members), however we do strongly encourage you to apply for the new site. You will need to be a current active client.

Apply for New Members!

Have look at the new members layout

Sneak a Peak!

Anti Money Laundering (AML) and Counter Terrorism Financing (CTF) legislation

From December 12, 2007 the new Anti Money Laundering (AML) and Counter Terrorism Financing (CTF) legislation imposes strict obligations in relation to customer identification. As a result, DJ Carmichael is required to implement a number of new processes to ensure we fully comply with the AML/CTF Act. This includes changes to our identification procedures involving the collection and verification of client information.
These requirements will immediately affect all new clients, however in some cases we may be required to obtain additional information from existing clients if the information we currently hold does not meet the new standards. We are also required to keep a record of the identification checks performed and if requested by the regulator (AUSTRAC), disclose copies of the information and verification details we hold. AUSTRAC have detailed all the relevant information, including the AML/CTF Act on their website: AUSTRAC
You may find this useful should you require further information on the Act and its implications. Please be assured that your privacy is of the utmost importance to us and we will continue to abide by the requirements under the Privacy Act.

Floats & Issues

Please contact your adviser to discuss any new floats or issues.

Alternatively the ASX maintiains a listing of upcoming floats and issues upcoming floats and issues