Excision in Hochschild and cyclic homology without continuous linear sections

We prove that continuous Hochschild and cyclic homology satisfy excision for extensions of nuclear H-unital Frechet algebras and use this to compute them for the algebra of Whitney functions on an arbitrary closed subset of a smooth manifold. Using a similar excision result for periodic cyclic homology, we also compute the periodic cyclic homology of algebras of smooth functions and Whitney functions on closed subsets of smooth manifolds.