12:22 PM EST, 11/12/2024 (MT Newswires) -- The European stock markets slipped on Tuesday as the Stoxx Europe and Germany's DAX both fell 2%, the FTSE in London lost 1.2%, France's CAC 40 shed 2.7%, and the Swiss Market Index closed 1.6% lower.

In Germany, the annual inflation rate reversed its downward trajectory in October, rising to 2% from 1.6% the previous month, and 1.9% in August, according to the Federal Statistical Office, which attributed the increase mainly to rising food and services prices.

In the UK, payrolled employees decreased by 9,000 in September from August, and rose by 136,000 since the same month last year, according to the Office for National Statistics.

And in corporate news, Shell welcomed a decision by the Dutch Court of Appeal of The Hague to overturn a 2021 district court ruling that ordered the oil major to reduce its worldwide carbon emissions by 45% by the end of 2030, compared with 2019 levels. Shell stock in London was down over 1%.

Shares of Vodafone Group dropped 8% in London after it reported its fiscal Q2 revenue in Germany declined 6.2% due to a new law that prevents TV service charges being bundled into rental agreements at multi-dwelling units.

Convatec shares closed 22% higher in London after the medical device maker raised its fiscal year 2024 guidance for organic sales, and double-digit earnings growth in 2024 and 2025.

The European Commission said Tuesday it has notified Apple of several potentially banned geo-blocking practices that the Consumer Protection Cooperation Network has identified on certain Apple Media Services.

And Meta Platforms said Tuesday that it is reducing the subscription price for users of ad-free Facebook and Instagram in Europe by 40%. Meta's shares were up more than 2% in early trading Tuesday.