We're still running with oil stocks. They still are being supported. They haven't become much more expensive because earnings are going up with them.

We do gasoline promotions and heating oil promotions regularly ... there is a recognition that these are popular items due to the high cost of gasoline and home heating oil prices.

The pipeline is running about half as much oil through now as it did when it first opened, I see the life of the oil line being extended for a lot more years.

The economic case for further mergers and consolidations in Europe is very strong. We haven't seen all the bidders.

We're seeing a little bit more cautiousness. So much of the tech sector is dependent on the consumer and that's an area of potential weakness.

There's still potential for the markets to gradually move upwards over the year, and M&A can help. There is quite a lot of institutional demand. Equities are still not particularly expensive.