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Australian shares continued to rise on speculation of a Reserve Bank of Australia rate cut on Tuesday sending the ASX200 up 18.8 points or 0.3% to 5588.3.
While there is a probability that the RBA would cut rates next week most economists expect the central bank to leave rates on hold.
A small rally in crude oil sent () up 1.9% to $7.88 and () up 1.6% to $34.28. Oil Search () climbed 0.9% to $7.77.
Market action here…
Shares in Freelancer (ASX:FLNASX:FLNASX:FLNrose 13.3% to $0.68.
The company received record cash receipts of $7.4 million in the fourth quarter of 2014 up 7.6% from the previous quarter and 42.1% from the previous corresponding quarter.
Adding to the interest the company had a cash balance of $20.2 million at the end of December 2014 up from $19.7 million as at 30th September 2014.
Freelancer continued to experience strong growth in key operating metrics as numerous product enhancements shipped in Q4 2014 improved the award-winning user experience.
The company ended 2014 with 14.3 million registered users up from 9.7 million in 2013 and 6.9 million projects and contests posted up from 5.2 million in 2013.
User acquisition increased strongly in 2014 with 4.6 million new registered users up 60% from 2013
Similarly project &;; contest postings accelerated to 1.6 million in 2014 up 31% from 1.2 million in 2013.
Blue Chip stocks
Major miners
() up 1.1% to $29.26
() up 5.8% to $2.36
Newcrest () down 1.0% to $13.56
(ASX:RIO) up 0.9% to $57.56
Big 4 banks
ANZ Bank (ASX:ANZ) up 0.2% to $33.00
() up 0.6% to $89.33
() up 0.4% to $35.63
() down 0.5% to $34.46
Other banks financials and industrials
() down 0.5% to $5.77
() up 0.1% to $12.51
Bendigo and Adelaide Bank () down 1.1% to $13.38
() up 0.6% to $62.15
Suncorp () up 1.0% to $14.72
() up 0.5% to $6.50
Retailers
JB Hi-FI () up 0.6% to $16.75
() down 0.3% to $43.59
Woolworths () up 0.6% to $31.78
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