(Reuters) – The main European stock markets are moving on a cautious note at the start of the session on Thursday, as investors examine the implications of political announcements in France, as well as the prospects of a lasting ceasefire in Gaza.

In Paris, the CAC 40 gained 0.28% to 8,082.75 points around 07:27 GMT. In Frankfurt, the Dax rose 0.29% and in London, the FTSE 100 lost 0.27%.

The EuroStoxx 50 index is up 0.16%, but the FTSEurofirst 300 is down 0.10% and the Stoxx 600, which closed at a record level the day before, is down 0.08%.

A Prime Minister will be appointed in France within 48 hours by Emmanuel Macron, the Elysée declared on Wednesday after an interview between the head of state and the resigning Prime Minister Sébastien Lecornu, who judged that a path was possible for the adoption of a budget by December 31 and that an absolute majority of deputies refused the dissolution of the National Assembly.

“This pushes back the risk of early elections for the moment. Investors were rather optimistic during the trading session, with outgoing Prime Minister Lecornu continuing to assert that a solution was possible and that the deficit target for 2026 should be below 5% of GDP,” Deutsche Bank analysts write in a note.

The Middle East is also in focus Thursday, as Israel and Hamas approved the first phase of US President Donald Trump’s plan to end the war in the Gaza Strip, paving the way for a ceasefire, a release of hostages and the potential resolution of the two-year conflict in the Palestinian enclave.

On the macroeconomic front, investors learned that German exports fell unexpectedly in August month-on-month, data that comes after Donald Trump’s administration imposed a 15% import tariff on most goods from the European Union (EU).

The publication of the minutes of the last meeting of the European Central Bank (ECB), during which the institute, as expected, left its key rates unchanged, is scheduled for 11:30 GMT.

In terms of values, Sopra Steria fell 3.62% after announcing on Wednesday the resignation of its general manager Cyril Malargé.

Alten, which will reorganize its governance with the separation of the functions of president and general manager, is down 3.2%.

Worldline, whose recommendation was lowered by Morgan Stanley to “underweight” from “online weighting”, dropped 3.3%.

Elsewhere in Europe, HSBC lost more than 6% after announcing its intention to privatize its subsidiary Hang Seng Bank.

(Written by Diana Mandiá, edited by Blandine Hénault)

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