MIDEAST STOCKS-Saudi shares extend gains; UAE markets retreat - Agricultural Commodities - Reuters:
Saudi Arabia’s stock market edged up on Thursday, extending gains for a fifth straight session, while markets in United Arab Emirates were subdued.
Saudi’s benchmark index rose 0.1%, with Saudi British Bank rising 1.3%, while Saudi Basic Industries (SABIC) was up 0.6%.
Clariant, an affiliate of SABIC, is selling its masterbatches unit to U.S.-based PolyOne Corp for $1.6 billion, the Swiss speciality chemicals maker said on Thursday. It will pay shareholders about $1 billion from the proceeds.
Saudi Aramco’s shares fell a further 0.7% to 36.5 riyals ($9.73) a day after their inclusion in the MSCI emerging- markets index. The oil giant will also join the FTSE benchmark on Thursday.
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