AU Evening Wrap: Traders play defence as slowdown fears rise

Blue-chips dominated as the $.XJO.AU$ climbed 26 points or 0.37 per cent. Small caps retreated.

The shockwaves from last week's dire outlooks from US retail giants $WMT.US$ and $TGT.US$ began to settle. $WOW.AU$ bounced 1.86 per cent. $COL.AU$ put on 1.98 per cent. IGA operator $MTS.AU$ added 2.12 per cent.

The big four banks advanced between 1 and 1.8 per cent. $TLS.AU$ gained 1.55 per cent, $RIO.AU$ 1.35 per cent and $WES.AU$ 1.12 per cent.

$WDS.AU$ edged up 0.66 per cent as it commenced trade under a new name and ticker code following its merger with BHP's petroleum business. The business trades from today under the name Woodside Energy Group and code $WDS.AU$. $BHP.AU$ shareholders received shares in the new entity.

$TAH.AU$ continued to lose altitude after spinning out its lotteries business, falling 3.32 per cent.

Kiwi medical device manufacturer $FPH.AU$ dropped 2.3 per cent to a 30-month low as the launch of new products failed to offset uncertainty about the coming year. The company unveiled three new products, but declined to offer full-year revenue guidance. Net profit declined 28 per cent in FY2022.