As retailers prepare for a rush on alcoholic beverages today, Nampak is still smarting from the ban on beer sales since the start of the national lockdown. Lower demand for packaging from the beverages industry is just one factor that has resulted in a significant decline in Nampak's profitability this year - although the lockdown only came into effect towards the end of its first half.

Another vice that continues to be constrained by the lockdown, smoking, probably won't have a big impact on British American Tobacco's financial performance given the scale of its global operations. Still, BAT's share price has been a drag on Reinet's net asset value, which has declined over the past year.

Meanwhile, Capitec has warned that it's likely to report reduced first-half earnings due to the impact of the lockdown on the sale of loans and funeral policies - not to mention the hardship Covid-19 has caused many of its customers. However, those clients who see an opportunity in the recent pullback in companies' share prices may be interested in a tie-up with EasyEquities, which plans to launch investing services on the new Capitec banking app.

More on those stories to follow, along with the latest results from Tsogo Sun Hotels and Raubex, which is hoping to win some new tenders in economic recovery infrastructure projects.

Finally, in The Week Ahead, Chris Gilmour reviews some of the news that has helped drive markets, including a gradual pick-up in global tourism.

I hope you have a good week. And if you're headed for the bottle store, you may need padkos!

Stephen Gunnion

Managing Editor, InceConnect

Take a look at the latest Insights and sector reports From Ingham Analytics.

Ingham Analytics issued a Trader note last Friday entitled "Illusory value" on Prosus, and by extension Naspers and Tencent. Naspers and lately Prosus are corporate structures that have been and continue to undermine value, says Ingham Analytics, which was highly sceptical that this discount would be shrunk let alone erased or converted to a premium over Tencent by the Prosus listing in Amsterdam. This has proved the case. Prosus is the largest stock on the JSE by market cap and of interest to a wide audience. In "Illusory value" it has updated its call on Prosus/Naspers and Tencent and revised its forecast and valuation on Tencent. What is an interesting trade if you're a short-term trader and where should long term money be invested?

Other recent Ingham Analytics notes that are popular include: "Say buddy, can you spare a dime?"; "Iron ore and steel defies Covid-19 macro gloom"; "Lower for longer on rates?"; "South African economic and financial fragility"; and "Poseidon and the other banking gods".