Both US President Donald Trump and Iran have portrayed the last minute ceasefire deal as a victory for their nations.
The nations accepted Pakistan's proposal to pause fighting two weeks and Iran's agreed to reopen the Strait of Hormuz.
Milford Asset Management expert Brendan Larsen says shares in the US, Australia and New Zealand have gone up off the back of the news.
LISTEN ABOVE

Gavin Grey: UK correspondent on Prime Minister Starmer's response to the US-Iran ceasefire
04:52

Jenee Tibshraeny: NZ Herald Wellington business editor on what the Middle East conflict could do to inflation
04:48

Neil Webster: Employment Hero spokesperson on the growing use of AI in the employment process
05:25