German and Swiss banks seen gaining after Iran ceasefire

Shares of German and Swiss banks are seen rising between 4.2% and 7.4% in early trading and premarket indications after the U.S., Israel and Iran agreed to a ceasefire

U.S. President Donald Trump agreed to a two-week ceasefire with Iran on Tuesday, less than two hours before his deadline for Tehran to reopen the Strait of Hormuz or face devastating attacks on its civilian infrastructure

Germany's Commerzbank CBKG.DE and Deutsche Bank DBKGn.DE are up 6.1% and 7.9% respectively in early Frankfurt trade

Switzerland's UBS UBSG.S is seen up 4.2% in Julius Baer premarket indications