Europe seen higher; Asia mulls data, growth revisions

European equities are expected to open in positive territory on Monday following an inspiring lead from the U.S. and as China shares touched fresh seven-year highs despite dismal export data.

In Asia, Chinese shares led gains among regional peers to touch fresh seven-year highs on Monday despite data showing exports fell more-than-expected, down 14.6 percent in March from the year-ago period.

A mostly positive lead from Wall Street also boosted Asian shares. The Dow Jones Industrial Average rose end 0.6 percent higher on Friday, while the S&P 500 closed up 0.5 percent and the NASDAQ Composite was flat.

Meanwhile, the World Bank trimmed its 2015-2016 growth forecast for developing East Asia and China on Monday, citing a continued slowdown China and "significant" risks from global economic uncertainties as a reason for the revision.

In the U.S., former Secretary of State Hillary Clinton formally launched her candidacy for the U.S. presidency on Sunday, putting an end to speculation that she would run in the 2016 presidential race.

In Europe, Greece is expected to remain in the spotlight amid concerns that the country is running out of options to find a solution to its debt problems.

On Sunday, Greece's finance ministry dismissed a report by a German newspaper which said that euro zone officials were shocked at Greece's failure to outline plans for structural reforms at last week's talks in Brussels, Reuters reported Sunday.