http://nz.biz.yahoo.com//090626/16/d1rv.html

MELBOURNE, June 26 (Reuters) - Australian shares rose 1 percent on Friday, given a lift by Qantas Airways Ltd (ASX: QAN.ax) after it cut aircraft orders and oil producers after crude prices firmed.

The benchmark S&P/ASX 200 .AXJO rose 39.6 points to 3,895.6 by 0014 GMT.

New Zealand's benchmark NZX 50 index .NZ50 rose 0.2 percent to 2,775.8. The index pared earlier gains after data showed the nation's economy contracted for a fifth straight quarter in the three months ended March. [ID:nWEL394407]