European markets are set to start the week on a positive note, with defense stocks seen opening sharply higher after regional leaders held security talks that discussed higher military spending.

The U.K.'s FTSE 100 is expected to open 42 points higher at 8,846, Germany's DAX is up 135 points at 22,621, France's CAC is up 34 points at 8,124 and Italy's FTSE MIB is up 18 points at 38,798, according to data from IG.

Earnings are due from Euroapi and Bunzl, and key data releases include preliminary euro zone inflation data for February, with the latest consumer price index due ahead of the European Central Bank's interest rate decision on Thursday.

U.S. stock futures were up slightly on Monday morning and most Asia-Pacific markets were up overnight as traders awaited more clarity on President Donald Trump's plans to impose tariffs on major U.S. trading partners this week.

U.S. Commerce Secretary Howard Lutnick reportedly told Fox News on Sunday that the exact tariffs that will be imposed on Mexico and Canada starting Tuesday are still "uncertain," meaning they could be lower than the proposed 25 percent. He added that an additional 10 percent duty on Chinese imports is "set in stone."

European markets: Here are the expected openings

European markets are expected to start the week on a positive note.

The U.K.'s FTSE 100 is expected to open 42 points higher at 8,846, Germany's DAX is up 135 points at 22,621, France's CAC is up 34 points at 8,124, and Italy's FTSE MIB is up 18 points at 38,798, according to data from IG.

Earnings are due by Euroapi and Bunzl, and key data releases include the latest euro zone inflation data. (Newsmaker23)

Source: CNBC