What Caused Telefonica's Share Plunge?

On this episode of Stock Movers:
- Associated British Foods said it is conducting a review that could lead to a separation of the Primark clothing retailer from the rest of its business.
- Telefonica shares fell the most in more than five years after Spain’s largest telecom operator by revenue announced it will slash 2026 dividend by half.
- Royal Philips' stock rose after the Dutch medical technology firm reported better-than-expected adjusted Ebita for 3Q.

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