Australia shares set to extend rally into third session

SYDNEY, Jan 25 (Reuters) - Australian shares are set to open up more than 1 percent on Monday, extending a rally into a third consecutive session, buoyed by stronger oil prices and a firmer Wall Street. Local share price futures rose 1.1 percent to 4,934.0, an 18-point premium to the underlying S&P/ASX 200 index . The benchmark rose 1.1 percent on Friday. New Zealand's benchmark S&P/NZX 50 index rose 0.2 percent in early trade. For a summary of overnight action across global markets