Jan 7 (Reuters) - Australian shares are expected to open higher on Friday, a day after notching the worst session in sixteen months, with energy and mining stocks set to gain on the back of firmer commodity prices. The local share price index futures rose 1.1%, a 11.3-point discount to the underlying S&P/ASX 200 index (.AXJO) close. The benchmark settled 2.7% lower on Thursday. New Zealand"s benchmark S&P/NZX 50 index (.NZ50) rose 0.1% in early trading, led by gains in technology and utilities stocks.