The materials sector advanced past 1% at midday Friday, with gold rebounding over 2%.

The US and China reached a truce in trade tensions, with the US agreeing to reduce tariffs on China to 47%, while China agreed to resume rare earths exports.

Larvotto Resources (ASX:LRV), whose shares jumped above 10%, said it continued to drill across the Eleanora-Garibaldi, Golden Gate, Metz, and Freehold areas at the Hillgrove antimony-gold project in New South Wales during the September quarter.

Consumer discretionary stocks continued to fall, with the sector down over 1%.

Star Entertainment Group (ASX:SGR) reported a revenue of AU$284 million for the quarter ended Sept. 30, up 5% compared quarter-over-quarter, and earnings before interest, taxes, depreciation, and amortization loss of AU$13 million over the period, compared to an EBITDA loss of $27 million for the previous quarter.