Elliott Investment Management Targets BP for Strategic Overhaul

BP shares jumped to the top of the FTSE 100 this morning as a rumour emerged that an activist hedge fund had taken a position in the stock. Shares in the blue-chip oil giant jumped seven per cent in early deals on the news activist hedge fund Elliott Investment Management had built a position in the company. The news of the stake emerged over the weekend, but as of yet, the size of the position has not been confirmed. BP is one of the largest companies listed on the London Stock Exchange, and it’s one of the largest constituents of the FTSE…