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BHP Billiton top gainer on FTSE 100

by LLB Reporter
10th Apr 17 3:39 pm

What happened?

BHP Billiton was the top gainer on the FTSE 100, this came about as one of its shareholders pressurised it to look at a new restructuring plan.

The mining firm saw its shares rise by 4.6 per cent in Monday morning trading. The increase came after hedge fund manager Elliott Advisors said it had sent the plan to the company’s directors.

The plan would see BHP’s oil business demerging, more money would be returned to investors.

By lunchtime the FTSE 100 was 7.67 points lower at 7,341.70.

Elliott said in a statement: “The goal is to provide details of the BHP shareholder value unlock plan to all of BHP’s shareholders, so that BHP can engage openly with all parties on the plan,”

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