Global equities set a new record high and bond yields sank to fresh lows on Thursday as investors positioned for an extended era of cheap money ahead of the European Central Bank's looming bond-buying scheme.

HSBC (HSBA.L) reported a 17 percent fall in annual pretax profit and cut its profitability target, saying allegations its Swiss business had helped customers to dodge taxes had brought shame on the bank.

Crude oil futures fell more than 2 percent on Monday as investors worried about oversupply and a strong dollar, but heating oil futures jumped 5 percent due to operational problems at major U.S. refineries.

Oil prices fell on Monday as worries about oversupply in North America and a strong dollar pushed Brent futures towards $59 a barrel and U.S. contracts below $49 a barrel.

The weak global diary market, hit by oversupply and a tail-off in Chinese demand that has driven international milk prices down by around 50 percent, is unlikely to pick up anytime soon, analysts say.

Outgunned by Chinese and Middle Eastern competitors and lacking the breadth of service of their U.S. rivals, European private equity firms are focusing on specific industries to compete on their home turf.

Greece's struggles with its euro zone creditors may have grabbed much of the world's attention, but U.S. Federal Reserve Chair Janet Yellen is likely to reclaim the spotlight this week with testimony on a long-anticipated shift in policy.

Brent crude oil fell below $60 a barrel on Friday as oversupply, supported by record-high U.S. crude stocks, weighed on the market.

World stocks eased off five-month highs on Friday and the euro fell before a European finance ministers' meeting that could potentially cut Greece adrift and set it on the path to exiting the euro zone.

The British government said on Tuesday it had awarded Boeing (BA.N) a five-year contract worth 420 million pounds ($644.91 million) to provide in-service support to its fleet of Chinook military helicopters.