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One of the most surprising outcomes from the better-than-expected August reporting season was the strong performance of consumer discretionary retailers, as Australians continued to weather higher interest rates and inflation better than many analysts had feared.

An emerging global supply shortfall and booming demand due to the clean-energy transition are set to support big gains in the price of copper, leaving investors hunting exposure to the few mining projects currently online.

Analysts say Macquarie Group, which posted a $2.3 billion half-year profit and an 11 per cent increase in net operating income, can continue to grow its performance fees revenue and profits even if share and bond markets fall.

Higher interest rates, a slowing property market and the promise of loan defaults is curbing the enthusiasm of analysts on future bank earnings.

Falling resource and commodities prices are worrying investors and resource companies have dropped sharply in price in July. Analysts are mixed on their outlook for resources companies, with some tipping energy companies to outperform while other experts favour diversified resources companies.