Welcome to your five-minute recap of the trading day and how the experts saw it.

The numbers: The Australian sharemarket is up 1.94 per cent, the ASX 200’s best day since January 28 this year. The ASX 200 climbed 127.3 points to 6706, the third consecutive session that saw a rise. It’s the index’s first hat-trick in about six weeks.

All sectors were in the green. Strong results from the big four banks drove a 2.66 per cent gain in financials; Commonwealth Bank was up 3.87 per cent, ANZ 3.01 per cent, Westpac 2.41 per cent and NAB 3.4 per cent.

Energy closed with a 2.5 per cent gain and, following a strong showing last week, the tech sector jumped 2.63 per cent, furthering Friday’s 6 per cent spike.

The lifters: Imugene 45.45%, Pointsbet 12.45%, Core Lithium 12.02%

The laggards: Evolution Mining -21.89%, Northern Star -12.14%, Ramelius Resources -5.91%

The lowdown: The Australian market followed a rally on Wall Street led by banks and technology that saw the S&P rise by 3.1 per cent, its best session since May 2020.

The broad gains across the market followed the bloodbath sell-off earlier in June, although analysts warn the recovery could be a short-lived rally leading up to the end of the financial year.

Improving sentiment in China following the slow easing of harsh COVID lockdowns saw iron ore prices rise by 3.7 per cent and the price of copper go up for the first time in five days as investors hoped demand for metals would improve, said Saxo Markets analyst Jessica Amir.

But Amir said improvements should be viewed with caution. “The industrial metal commodity rally could be short-lived until we have consistent news from China that restrictions are easing,” she said. Amir said BHP stocks, which plunged 23 per cent since April, had been oversold and expected them to improve.