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ASX climbs, but this online freelancing marketplace jumped 13.3%

Speculation about a potential rate cut has sent the ASX200 up 0.3% to 5,588.3 points.This freelancing, outsourcing and crowdsourcing marketplace, the largest in the world, has received record cash receipts and built a healthy cash balance.
ASX climbs, but this online freelancing marketplace jumped 13.3%

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 5,588.3.

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 Santos (ASX:STO) up 1.9% to $7.88 and Woodside Petroleum (ASX:WPL) up 1.6% to $34.28. Oil Search (ASX:OSH) climbed 0.9% to $7.77.


Market action here…


Shares in Freelancer (ASX:FLNASX:FLNASX:FLNASX:FLN/strong>rose 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

 
BHP Billiton (ASX:BHP) up 1.1% to $29.26
Fortescue Metals Group (ASX:FMG) up 5.8% to $2.36
Newcrest (ASX:NCM) down 1.0% to $13.56
Rio Tinto (ASX:RIO) up 0.9% to $57.56


Big 4 banks

ANZ Bank (ASX:ANZ) up 0.2% to $33.00
Commonwealth Bank (ASX:CBA) up 0.6% to $89.33
National Australia Bank (ASX:NAB) up 0.4% to $35.63
Westpac (ASX:WBC) down 0.5% to $34.46


Other banks, financials and industrials


AMP (ASX:AMP) down 0.5% to $5.77
Bank of Queensland (ASX:BOQ) up 0.1% to $12.51
Bendigo and Adelaide Bank (ASX:BEN) down 1.1% to $13.38
Macquarie Group (ASX:MQG) up 0.6% to $62.15
Suncorp (ASX:SUN) up 1.0% to $14.72
Telstra (ASX:TLS) up 0.5% to $6.50


Retailers

JB Hi-FI (ASX:JBH) up 0.6% to $16.75
Wesfarmers (ASX:WES) down 0.3% to $43.59
Woolworths (ASX:WOW) up 0.6% to $31.78



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.   



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