Australian shares are set to rise at the open on Friday, extending gains to a third straight session, bolstered by improving global risk sentiment, while strong bullion prices are expected to aid domestic gold miners.

The local share price index futuresrose 0.3%, an 8-point discount to the underlying S&P/ASX 200 index close.

The benchmark rose 0.5% on Thursday.

New Zealand's benchmark S&P/NZX 50 index rose 0.3% in early trading.