Middle East Banks Surge Post Iran Ceasefire

Middle East banking stocks rallied sharply, with Emirates NBD up nearly 10% and First Abu Dhabi Bank up 8% after ceasefire announcement.
The ceasefire, brokered by US President Donald Trump and Pakistan’s Shehbaz Sharif, hinges on Iran ending its Strait of Hormuz oil blockade.
Asian equities rose, with Japan’s Nikkei +5.4%, China’s CSI300 +3.4% and Hang Seng +3.1%; US crude fell to its lowest since March 26.
Oil prices slipped sharply as U.S. crude futures hit the lowest level since March 26, reflecting reduced geopolitical risk.