All eyes will be on the Middle East this week as mounting conflict is expected to shape its markets as well as those of countries involved, including the US and the UK.

At the end of the week, oil stood at $74 a barrel, Reuters reports, but it is yet to be seen how the Israel and Lebanon conflict will affect this. Economic analysts expect that, as well as the Middle East situation, Wall Street will keep a close eye on the US economic indicators, including property sales, gross domestic product and consumer confidence.

Meanwhile, in the UK, Corpora has won a contract with Fuji Trading to provide iOra Maritime Data Replicator software to Fuji's ships. In other news, Vodafone is set for an annual meeting on Tuesday, which could see a controversial meeting, as former Tesco boss Lord MacLaurin bows out. It will also be releasing its quarter one key performance indicators today. Vodafone has been hit by a number of factors which have affected its profit, but some commentators feel that the problems are exaggerated.

One told website This Is Money: "After the decision to sell the Japanese arm and hand £9 billion to investors, the tension has eased somewhat. "Vodafone has problems but while six months ago it was 75 per cent Vodafone's fault and 25 per cent the market's, the reverse is probably the case."

This week will also see the release of key figures from a number of blue chip companies, including GlaxoSmithKline, BT Group, Royal Dutch Shell and AstraZeneca.