MIDEAST STOCKS-Rising oil price boosts Saudi, top telecom firm weighs on Abu Dhabi | Reuters:
Saudi Arabia's stock market rose on Wednesday as banks and petrochemical shares gained amid rising oil prices, while Abu Dhabi was pulled down by Emirates Telecommunications.
Saudi Arabia's index was up 1 percent, with Al Rajhi Bank gaining 0.9 percent.
The Middle East's largest petrochemical maker Saudi Basic Industries (SABIC) also rose 1 percent in active trade after it said it will merge its units Saudi Petrochemical Co and Arabian Petrochemical Co.
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