MJW.L Share News (MJW)

The FTSE 100 looks set to start this week on the back foot as tensions in Iraq continued to escalate over the weekend. London's main index is predicted to open around 12 points lower, tracking losses in Asia overnight and extending its own losses seen on Friday, when it finished the week at 6,777.85. "Asian shares started the week in negative ground throughout the night as the conflict in Iraq continues to impact global markets, mainly the prices of oil which has rocketed to a nine-month high as exports could be effected by the violence," SpreadEx's Samuel Fox commented. "Gold seems to be the chosen 'safe-haven' once again in times of crisis with the price hitting three-week high levels." With little in the way of either corporate or macro news due out today, markets will be anticipating Wednesday's critical Federal Open Market Committee decision on monetary policy. "It is now expected that the Fed will continue to taper its monthly asset purchasing programme by a further $10bn to $35bn," Fox said. Afterwards, a press conference will be given by its Chairwoman, Janet Yellen, from which investors will be hoping to seek clarity on a number of points. Back in the UK, and in this morning's company news, telecoms giant Vodafone announced it is to take over Cobra Automotive Technologies, the Italian provider of security and telematics solutions to the automotive and insurance industries. Vodafone has announced its intention to acquire the Milan-listed group through a voluntary tender offer at €1.49 per share in cash, valuing the firm at €145m.FTSE 250-listed Ultra Electronics announced that it has acquired nuclear services firm Lab Impex Systems (LIS) for £3.2m in cash from private investors. Ultra Chief Executive Rakesh Sharma said: "This acquisition extends Ultra's capabilities in the nuclear sector and provides further momentum for our international growth."People reined back their spending on drinks early this year after splashing out at Christmas, hitting sales at Majestic Wine, although the retailer still increased its dividend.NR