BP shares pop 8% after reports activist hedge fund Elliott has taken a stake in the struggling British oil major
1. Elliott Management has acquired a stake in BP, boosting its stock by 7.14%. 2. BP faces financial challenges with rising corporate costs and lower refining margins. 3. Upcoming fourth-quarter results could reveal further data on BP's profitability. 4. Activist investors like Elliott often push for meaningful corporate changes. 5. The size of Elliott's stake in BP is currently unconfirmed.