Intel's woe sends shock waves through European exchanges

European exchanges performed poorly in early trading this morning, after US chipmaker Intel issued an overnight revenue warning for the current quarter and confirmed the loss of 5,000 jobs.

Intel shares fell eight per cent in after hours trading. The news shook Europe, with the FTSE 100 falling 0.4 per cent and the Techmark down 0.8 per cent In the UK, Autonomy and ARM lead the losers, with Autonomy down 3.18 per cent to 1311p and ARM down 5.28 per cent to 349.5p. Also falling on the London Indexes were Bookham Technologies, down 4.6 per cent, and Logica, tumbling 2.19 per cent. In Frankfurt, the DAX dropped 0.4 per cent with SAP and Infineon hard hit, dropping 0.69 per cent and 3.87 per cent respectively. Paris's CAC40 was down 0.7 per cent and Alcatel led the fall, down 2.21 per cent. In the US today, web infrastructure provider Loudcloud will debut on the Nasdaq with $150m worth of shares up for trading, $50m lower than originally expected.