Australian shares rose 1.6 percent on Friday, their biggest daily gain in 3-1/2 months, supported by sharply higher base metals prices and an agreement by G7 countries to intervene to weaken a soaring Japanese yen and stabilise global markets. The benchmark S&P/ASX 200 index climbed 71.1 point to 4,626.40, according to latest available data. Volumes were heavy at nearly double the 90-day average as investors closed short positions ahead of the weekend and cherry picked blue chips.