insto - Australian financial markets

The S&P500 shed almost 1 per cent on the day, as Q209 drew to a close. The stock index has posted its strongest quarterly gain (15 per cent) in 11 years as markets seek to recover.

US Banks were lower following a government report that delinquencies on prime mortgages had increased to 2.9 per cent in Q109 from 1.1 per cent in Q108 while the broader market was weaker on news that US consumer confidence had unexpectedly declined.