MIDEAST STOCKS-Saudi slips, Telecom Egypt drops on MSCI exclusion

(Updates with Saudi Arabia, Egypt open) DUBAI, May 13 (Reuters) - Saudi Arabia's stock market slipped in early trade on Wednesday despite firmer oil prices, while Telecom Egypt weighed on the Cairo bourse after index compiler MSCI dropped it from its emerging markets benchmark. Strong oil helped petrochemicals giant Saudi Basic Industries rise 1.4 percent and supported other Saudi stocks in the sector.