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The Guardian - UK
The Guardian - UK
Business
Julia Kollewe

BP shares jump after feared US hedge fund Elliott takes stake

BP logo
BP will release its financial results this week after setting out plans recently to cut thousands of jobs globally. Photograph: Frank Augstein/AP

Shares in BP jumped 7% on Monday after it emerged that the activist investor Elliott Investment Management had taken a stake in the UK oil company.

The stock rose as investors bet that Elliott, a feared New York hedge fund known for its attempts to shake up listed companies, would push for an overhaul of BP’s strategy, along with a revamp of its board.

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