Here's Why European Banking Stocks Are Surging on Trump's Victory

Shares of European banking stocks, including Credit Suisse (CS) - Get Report and Deutsche Bank (DB) - Get Report moved sharply higher Thursday, buoyed by Donald Trump's presidential election. Craig Erlam, a senior market analyst at Oanda, based in London says the gains come as investors expect less banking regulation under the Trump administration and the hopes of lower fines from the U.S. Justice Department. Erlam says Trump may be less likely to "make an example" out of the banks as Hillary Clinton. TheStreet's Scott Gamm reports from Wall Street.