MIDEAST STOCKS-Saudi, Qatar edge up early on, UAE moves sideways | ZAWYA MENA Edition:
"Stock markets in Saudi Arabia and Qatar edged up in early trade on Thursday, with the top Saudi petrochemical producer climbing after acquisition news, while United Arab Emirates bourses moved sideways. The Saudi index was 0.2 percent higher after an hour with Saudi Basic Industries Corp adding 1.6 percent to its highest level since early 2015. It agreed to acquire a 24.99 percent stake in Swiss specialty chemicals maker Clariant AG, becoming the Swiss company's largest shareholder. SABIC did not say how much it paid, but the 24.99 percent stake is worth $2.4 billion based on its market capitalisation. "
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