* Basic Chemical leaps on dividend * Dubai snaps 7-day winning streak * DAMAC sees biggest fall in 11 months By Ateeq Shariff Dec 19 (Reuters) - Financial shares helped lift Saudi Arabia's stock market for a fifth consecutive session on Thursday, while top lender Commercial International Bank supported Egypt's bourse. Saudi's benchmark index rose 0.5%, with Al Rajhi Bank and National Commercial Bank, rising 1.5% and 2.8% respectively. Among petrochemicals, Saudi Basic Industries was up 0.9% after its affiliate Clariant said that it is selling its masterbatches unit to U.S.-based PolyOne Corp for $1.6 billion. It will pay shareholders about $1 billion from the proceeds. Basic Chemical Industries jumped 4.2% following its board proposal for 2019 cash dividend of one riyal per share. However, Saudi Aramco's shares fell for third day in row, to close 3.3% down at 35.5 riyals ($9.46) a day after their inclusion in the MSCI emerging- markets index. The oil giant will also join the FTSE benchmark on Thursday. Egypt's blue-chip index increased 0.3% with Commercial International Bank adding 1.7%, while Cairo for Investment and Real Estate Development advanced 3.9%. Dubai's index dropped 0.7%, snapping seven consecutive sessions of gains, as Dubai Islamic Bank declined 1.8% and DAMAC Properties plunged 9.6%, its biggest fall since January. Duabi Islamic Bank on Wednesday rose after saying it had received shareholder approval to acquire unlisted Dubai-based Noor Bank. The acquisition will make the United Arab Emirates' largest sharia-compliant bank one of the top Islamic banks in the world, with total assets worth 275 billion dirhams ($74.87 billion), up from 230 billion dirhams at the end of September. The Abu Dhabi index edged down 0.1%, with telecoms firm Etisalat shedding 1.8%. SAUDI ARABIA rose 0.5% to 8,291 points ABU DHABI gained 0.1% to 5,092 points DUBAI fell 0.7% to 2,769 points EGYPT up 0.3% to 13,837 points BAHRAIN was flat at 1,584 points OMAN dropped 0.7% to 4,012 points KUWAIT was up 0.6% at 6,870 points ($1 = 3.6729 UAE dirham) ($1 = 3.7509 riyals) (Reporting by Ateeq Shariff in Bengaluru, Editing by William Maclean)
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