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World leaders welcome the Israel-Hamas ceasefire as both sides agree to the first phase of a peace deal, raising hopes for lasting stability in the region
Israel and Hamas have agreed to the “first phase” of his peace plan to pause fighting and release at least some hostages and prisoners, U.S. President Donald Trump said on Wednesday (October 8, 2025) in announcing the outlines of the biggest breakthrough in months in the two-year-old war.
The ceasefire deal is to be signed on Thursday in Egypt at roughly 0900 GMT (2:30 p.m. IST), a source with knowledge of the agreement told AFP.
Hamas will exchange 20 living hostages for 2,000 Palestinian prisoners as part of the first phase of a deal to end the war in Gaza, a source within the militant group told AFP. The exchange will take place within 72 hours of the implementation of the agreement.
The hostages will be released in exchange for 250 Palestinians sentenced to life imprisonment and 1,700 others arrested by Israel since the war began on 7 October 2023, the source added.
The Gaza civil defence agency reported Thursday several strikes on the territory after the announcement that Hamas and Israel had agreed to a ceasefire plan.
“Since the announcement last night of an agreement on a proposed ceasefire framework in Gaza, several explosions have been reported, particularly in areas of northern Gaza,” said one of the agency’s officials, Mohammed Al-Mughayyir, citing “a series of intense airstrikes” on Gaza City.
UN Secretary General Antonio Guterres welcomed the announcement of an agreement to secure a ceasefire and hostage release in Gaza, based on the proposal put forward by US President Donald Trump. He lauded the diplomatic efforts of the United States, Qatar, Egypt and Turkiye in brokering the deal and urged all concerned parties to abide fully by the terms of the agreement.
World leaders on Thursday expressed hope for peace and urged Israel and Hamas to fulfill their commitments in the hours after U.S. President Donald Trump announced that the parties had agreed to the “first phase” of a deal signaling a major breakthrough in the two-year war in Gaza.
Hamas will release all 20 living hostages in the coming days in exchange for Palestinian prisoners, while the Israeli military will begin a withdrawal from the majority of Gaza.
“This means that ALL of the Hostages will be released very soon, and Israel will withdraw their Troops to an agreed upon line as the first steps toward a Strong, Durable, and Everlasting Peace,” Mr. Trump wrote on social media.
Israeli Prime Minister Benjamin Netanyahu said on social media: “With God’s help we will bring them all home.”
Gold took a breather from a record run on Thursday, as investors booked profits a day after bullion breached the key $4,000-per-ounce level for the first time ever on economic and geopolitical uncertainties and hopes of further U.S. rate cuts this year.
Spot gold fell 0.4% to $4,020.99 per ounce as of 0302 GMT, after hitting a record high of $4,059.05 on Wednesday.
U.S. gold futures for December delivery fell 0.7% to $4,040.70.
Meanwhile, Federal Reserve officials agreed that risks to the U.S. job market were high enough to warrant a rate cut, but remained wary amid stubborn inflation, per minutes of the September 16–17 meeting released on Wednesday.
The Israeli army welcomed on Thursday the agreement reached between Israel and Hamas for the release of hostages held in Gaza and said it was “preparing to receive them.
“The Chief of Staff instructed to be prepared to lead the upcoming operation to return the abductees with sensitivity and professionalism,” the IDF said in Arabic on X.
Asian stock markets resumed their ascent on Thursday as investors doubled down on all things AI-related, while gold held atop $4,000 and the dollar retained its recent hefty gains.
Oil prices dipped as geopolitical tensions eased a little on news that Israel and Hamas had agreed to the first phase of a ceasefire plan to end the two-year conflict.
In equity markets, a resumption of the bull run in AI-related tech saw the S&P 500 and Nasdaq reach record highs as funds were again rewarded for buying the dips.
A jump in tech pushed Japan’s Nikkei up 1.4% and back toward all-time peaks. Data showed offshore funds bought a net 2.5 trillion yen ($16.40 billion) worth of Japanese shares in the week through October 4.
Stocks in Taiwan climbed 1.2% to a fresh record, while MSCI’s broadest index of Asia-Pacific shares outside Japan firmed 0.3%.
Chinese blue chips added 0.4% as they reopened from a week-long holiday.
President Donald Trump said Wednesday the United States will play a role in helping to rebuild war-torn Gaza and keep it safe and peaceful, after Israel and Hamas agreed to the first phase of his plan.
“We’ll be involved in helping them make it successful, and helping it stay peaceful,” the President told Fox News hours after he announced the agreement, adding he is “very confident there’ll be peace in the Middle East.”
Prime Minister Narendra Modi on Thursday (October 9, 2025) welcomed the agreement on the first phase of U.S. President Donald Trump’s peace plan for Gaza, under which Israel and Hamas have decided to pause fighting in Gaza.
Mr. Modi said the agreement was also a reflection of the strong leadership of Israeli Prime Minister Benjamin Netanyahu.
