MIDEAST STOCKS-Petrochemical stocks lift Saudi to 5-yr high; Egypt up | Reuters:
"Saudi Arabia's market hit a five-year high on Wednesday as buying demand returned to petrochemical stocks, while Egypt rose for a third day on strong technical chart support.
Saudi's petrochemical index climbed 1.2 percent, rebounding after declines in the four previous sessions following lacklustre sector earnings.
Saudi Basic Industries Corp (SABIC), the world's largest chemicals producer, climbed 1.6 percent. The firm's chief executive on Wednesday said it would begin investment in U.S. shale gas in 2014.
Analysts are optimistic for the sector because of higher product prices and increased demand."
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