video transcript

A ceasefire in Gaza? At least 120 Palestinians, more than half of them civilians, have died in an offensive launched by Israel which has said it needed to take action to halt militant rocket fire out of Gaza. Now Palestinains say a ceasefire is in the works. (SOUNDBITE) (Arbaic) HAMAS SPOKESMAN FAWZI BARHOUM SAYING: "And perhaps, in the coming hours, there will be a formal announcement of a real victory by the Palestinian resistance, and Palestinian leadership from Cairo. The announcement will ensure the end of the criminal war on Gaza. This is a lesson to the occupation that it should not ever commit stupid actions or target Palestinian civilians. Also they will agree to end the siege on Gaza." An Israeli government spokesman told CNN no agreemenet had been reached and that the "ball is still in play."