Shares of British energy giant BP experienced a strong rise during trading on the London Stock Exchange on Monday, as well as in pre-US market opening transactions.
This notable increase in BP's shares came on the back of recent news reports indicating that the energy giant had sold a stake to Elliott Investment Management L.P.
Furthermore, news sources have shown that the new investor intends to make drastic changes in BP's activities and various operations, which could enhance the performance of the British company and support profits; this contributed to the rise of the stock in trading.
In terms of today's trading on the London Stock Exchange, BP's shares (BP.L) rose by approximately 7.02% or 30 British pounds, trading close to the level of 463.65 British pounds. At the same time, BP shares listed on the New York Stock Exchange (NYSE: BP) jumped in pre-market trading by about 6.51% to 34.37 dollars.
