OREANDA-NEWS. February 03, 2015. South African stocks ended slightly higher on Monday, led by a sharp rise in heavyweight Sasol as the price of crude oil rose.

Sasol, which sells its synthetics fuel at the same price as companies that import and refine crude oil, climbed 6.8 percent to 450 rand.

Crude oil prices rose on Monday as investors shrugged off a strike at nine refineries and chemical plants in the United States and focused on a falling rig count in the US that signaled lower production down the line.

The benchmark JSE Top-40 index was up 0.17 percent to 45,188 and the broader All-share index was up 0.25 percent to 51,394.

The blue-chip index was also supported by mining stocks such BHP Billiton and Anglo American Platinum, which rose 2 percent and 1.8 percent, respectively.

"The sector continues to exhibit improvement in short-term technical metrics providing potential trading opportunities although the medium-term fundamental outlook needs to be constrained," brokerage house Imara SP Reid said in a note.

On the downside, banks featured with Barclays Group Africa dropping 4.5 percent to 189.95 rand after Deutsche Bank cut the lender rating to 'sell' from 'hold'.

Rival Standard Bank lost almost a percent after the company said it sold its London business at \\$75 million less than what had been previously agreed. About 176 million shares changed hands, slightly below last year's daily average of 183 million shares, according to according to preliminary bourse data.