MIDEAST STOCKS-Petchems and telcos buoy Saudi, Egypt falls after data | Reuters:
"Petrochemical and telecommunications stocks boosted Saudi Arabia's bourse early on Thursday while Egypt fell after poor economic data.
The Saudi index added 0.8 percent in the first hour of trade as petrochemical producer Saudi Kayan climbed 1 percent after announcing the start of commercial operations at a new butanol plant. Saudi Basic Industries rose 1.3 percent.
Telecommunications firm Mobily climbed 2.9 percent to 31.60 riyals. In a research note, NCB Capital described the Saudi telecoms sector as "a safe haven from the impact of oil volatility and lower government spending", though it gave a "neutral" rating to Mobily with a target of 31.90 riyals."
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