Customers leave a branch of a Tesco supermarket in London on January 27, 2017. AFP / Daniel LEAL-OLIVAS
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European shares pulled back Friday with UBS dragging bank stocks lower after posting a drop in full-year profit, while Britain's biggest supermarket Tesco surged after a 3.7 billion pound ($4.7 billion) takeover deal to buy a supplier. The pan-European STOXX 600 index was down 0.3 percent at its close, while the U.K.'s FTSE 100 rose 0.3 percent, supported by Tesco, which soared 9.3 percent after agreeing to buy wholesale supplier Booker in a deal that cements its dominant position in the U.K. The world's biggest wealth manager posted a 47 percent fall in 2016 net profit but struck a more optimistic tone for 2017 as its fourth-quarter net profit came in well ahead of market expectations.
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