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"These results are likely to lower market expectations further for UK banks, and we see a negative read-across for Lloyds and NatWest," banking analysts at JPMorgan said.

"These results are likely to lower market expectations further for UK banks, and we see a negative read-across for Lloyds and NatWest," banking analysts at JPMorgan said in a note.

"With volume and revenues holding up as expected, we see the warning to be company-specific rather than presenting a broad read-across to the sector," he added in a note.

"We believe AMD's warning will have the most negative read-across for PC peer Intel, but also somewhat for Nvidia and related memory and data center peers," BofA Securities analyst Vivek Arya said.

Some news with something of a read-across to British Steel, one of the big corporate stories of last week: the world’s largest steelmaker has cut production in Europe because of weak demand.