Enterprise software juggernaut Microsoft, like most tech stocks, had started September on the wrong foot. Microsoft stock reversed bullishly, gaining more than 3% for the month. During Thursday's morning session, Microsoft shook off early losses for a third straight day and inched 66 cents higher, or less than 0.2%, to 425.89.

New plans will see the 86 authorities managing local government pension schemes pooling their assets into a smaller number of 'megafunds'.