Communication services stocks advanced past 1% at midday Monday. The US and the EU secured a trade agreement on Sunday, averting a trade war, while the US and China reportedly agreed to a 90-day tariff pause extension.

Playside Studios (ASX:PLS) received firm commitments from sophisticated and professional investors to raise around AU$6.6 million via placement at AU$0.20 per share. A share purchase plan on the same terms will be offered to existing eligible shareholders to raise up to a further AU$3 million.

On the flip side, the utilities sector fell over 1%.

Carnegie Clean Energy (ASX:CCE) started the development of a six-megawatt CETO wave energy array in Europe and signed a memorandum of understanding with the Biscay Marine Energy Platform as the potential site of the project. The array would include six of the one-megawatt commercial-scale CETO units, connected to the grid through the platform's offshore cable and grid connection.