Materials stocks rose over 2% to lead gainers in midday trading Monday as prices for gold, silver and copper all edged higher.

BHP Group (ASX:BHP) shares gained 3%, and Rio Tinto Group (ASX:RIO) increased past 1%.

On the flip side, communication services stocks led decliners with a fall of more than 2%.

Telstra Group (ASX:TLS) shares slid 3%, extending losses posted on Friday.