World stocks indecisive

World stock markets were mixed Thursday as markets digested a move by the European Union to create a common banking authority and enthusiasm faded over the U.S. Federal Reserve's new bond-buying program, AP reported. A weakening yen propelled Japan's benchmark higher. Stocks in Europe fell in early trading despite European Union finance ministers meeting in Brussels reached an agreement to set up a shared banking supervisor. Under the agreement, the European Central Bank would act as supervisor for banks in the 17 EU countries that use the euro and any other country in the union that wants to opt in. Britain's FTSE 100 fell 0.2 percent to 5,936.12. Germany's DAX fell 0.5 percent 7,579.94. France's CAC-40 lost 0.1 percent to 3,641.54. Meanwhile, the Fed said Wednesday following a two-day policy meeting that it will keep spending $85 billion a month on bond purchases to drive down long-term borrowing costs and stimulate economic growth. The Fed will spend $45 billion a month on long-term Treasury purchases to replace 'Operation Twist,' a previous bond-purchase program of an equal size. And it will keep buying $40 billion a month in mortgage bonds. Benchmark crude for January delivery was down 38 cents to $86.39 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose 98 cents to close at $86.77 per barrel on the Nymex on Wednesday. In currencies, the euro rose to $1.3071 from $1.3063 late Wednesday in New York. The dollar rose to 83.45 yen from 83.20 yen.