London sugar futures end up

21 Feb, 2004

London sugar futures ended higher on Friday after an afternoon trading session that was severely marred by technical hitches at the Liffe exchange, dealers said.
However, despite the problems, a more supportive New York market and speculative and trade buying in the wake of Indonesia's latest tender purchase helped the benchmark May contract break nearby resistance and the key psychological $200.00 level, they added.
But in the end, front-month May closed $2.10 up at $199.50 after trading a $197.40-200.50 range on 1,769 lots from total turnover of 2,692.
Technical analysts had earlier pegged nearby resistance at $199.00.

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