BP shares experienced a significant increase after news emerged of Elliott Management's stake in the company. As an activist investor, Elliott Management's involvement raises expectations for strategic shifts within BP. This development follows BP's underperformance compared to its UK and US energy counterparts. Amid these changes, BP plans to reveal its fourth-quarter results soon and discuss its broader strategy later in February. Facing challenges like higher costs and job cuts, BP's shares rose by over 6% in London trading.