London cocoa edges up

London cocoa prices closed higher on Friday on spread trading and modest industry interest, with prices moving in a narrow range and failing to break any significant levels, dealers said.
The market has consolidated over the past few sessions and players eyed fund buying stops above the market and a potential rally towards 870/890 pounds per tonne.
But dealers said buyers lacked enthusiasm as they considered a dip towards 770/750 possible in the mid term, with origin orders limiting gains.
A stronger euro against the pound helped to lure European buyers into the market.
Benchmark July closed four pounds higher at 844 pounds on 3,519 lots out of total turnover of 13,735 lots.
May gained two pounds at 833 on 4,338 lots.
The May/July spread widened back to around a 14-pound discount after narrowing significantly on Thursday.