Good evening! Six of the eight ties in the last 16 of the Champions League have already reached the halfway stage, and now it is the turn of Arsenal and Monaco to get their two-legged affair underway at the Emirates. Both sides will fancy their chances of progressing to the quarter-finals having avoided some of the bigger boys in the draw, so we should be in for an intriguing contest here. Let's start with a look at the home side...

There is no doubt that Arsenal would have been happy with this draw for the last 16 having finished as runners-up in their group. The Gunners avoided the likes of Bayern Munich, Barcelona and Real Madrid, while Monaco were widely regarded as the kindest option available from the group winners. Wenger is right to say that there are no easy games in the Champions League, but it certainly could have been a lot worse for his side.

Arsenal fans would argue that they were due a good draw following a number of very tricky assignments at this stage of the competition in recent seasons. Indeed, they have not reached the quarter-finals of the Champions League since 2010, being eliminated by Barcelona, AC Milan and Bayern Munich twice since then. It is a competition that the club has never won, but Wenger yesterday hinted that he believes his side are getting closer to challenging for major European honours.

They will be confident of at least getting into the last eight this season, partly due to the opposition but also because of their recent form. The Gunners come into this match having won eight of their last nine outings in all competitions and 12 of their last 15. The odd slip-up has proved costly in the Premier League particularly, with defeats to the likes of Southampton and arch rivals Tottenham Hotspur, but on the whole they are in fine form at the moment.

That run has seen the Gunners climb up to third in the Premier League table - quite a turnaround from dropping behind Spurs after defeat in the North London derby just four matches ago. The likes of Manchester United, Southampton, Spurs and Liverpool are also involved in a very tight battle for the Champions League places, but right now it is Arsene Wenger's side who are in the driving seat.

They have been particularly impressive in front of their own fans over the past few months, winning all of their last nine outings at the Emirates Stadium in all competitions. That run stretches back to a November defeat at the hands of Manchester United and includes 23 goals scored and only three conceded. Such fine form at home makes taking advantage of this leg even more important for the Gunners as they have been a lot more prone to slip-ups on the road this season.

They reached the knockout rounds for the 15th year in a row fairly comfortably, finishing second in Group D and only missing out on top spot to Borussia Dortmund on goal difference. There were hiccups along the way, notably a defeat to Dortmund and squandering a three-goal lead to draw 3-3 with Anderlecht at the Emirates, but ultimately they finished seven points clear of the third-placed Belgian side. Only Bayern, Chelsea, Real Madrid and Porto scored more than Arsenal's 15 in the group stages, but only Schalke of the qualified teams conceded more.

That defeat to Dortmund was their solitary one in eight Champions League fixtures this season, including qualifiers. They will be happy not to have drawn a German team in the knockout phase as sides from Bavaria have been responsible for their last four home defeats in the Champions League. Indeed, Arsenal haven't lost a Champions League home game to non-German opposition since 2009, when Manchester United ran out 3-1 winners here. The last match Arsenal lost at home to non-German or English opposition in this competition was way back in 2003, 60 matches ago.

Monaco have a big task ahead of them in order to break that record, then, and they enter the match as fairly hefty underdogs to progress. Manager Leonardo Jardim has acknowledged that and also admitted that his was the team that every side in the last 16 would have wanted to face, but he insists that their ambition still remains to go far in the competition. Many people have already counted them out, and that could prove to be a motivating factor.

It is easy to see why Monaco are viewed as such a kind draw having not even been in this competition for a decade. Their return this season saw them win Group C, although that was widely regarded as the weakest group and Monaco were not exactly convincing on their way to top spot. They amassed just 11 points - two fewer than Arsenal managed for a second-placed finish in their group - edging Bayer Leverkusen by a solitary point.

What's more, the Ligue 1 club scored a measly four goals on their way to top spot - comfortably the lowest tally of any team in the last 16. However, Monaco's main strengths lie at the other end of the field, and they kept five clean sheets in their six group games, conceding just the one goal - the lowest of any team involved in the group stages. Arsenal's biggest problem will be breaking Monaco down, with the principality club more often than not winning matches by the odd goal.

Indeed, no team has conceded fewer goals in Ligue 1 this season, and that after a poor start to the campaign from Monaco. They have slowly rebuilt their season and climbed up to fourth in the table with a win over Nice on Friday, but they remain seven points adrift of the Champions League places and 11 off league leaders Lyon, albeit with a game in hand. In a familiar theme, they are the lowest scorers in the top half of the domestic table, while only four teams in the entire division have found the net fewer times.

Monaco's impeccable defensive record is best shown by the amount of clean sheets they have kept in recent weeks, however. They have denied the opposition from scoring in 14 of their last 17 matches, conceding just three goals in that time. That includes a run of nine clean sheets in a row at one point, although at the other end of the field things are once again lacking. They have scored just 25 goals in their last 22 outings but, with a defensive record so impressive, that is enough to keep positive results coming in.

Like Arsenal, Monaco come into this match in fine form having lost just one of their last 17 matches, excluding penalties. That defeat did come recently at the hands of Guingamp - predictably by a 1-0 scoreline - but on the whole Monaco have fashioned themselves into a side that don't throw matches away. They have been forced to change their style having seen Falcao and James Rodriguez depart, but Leonardo Jardim seems to have found a winning formula now.

Monaco will be quietly confident of getting something from this game too given their impressive away record in recent weeks. They have won five of their last seven matches on the road - six including penalties - keeping five clean sheets and conceding just two goals in the process. However, they have lost five of their last eight Champions League away games, failing to score in six of those. Indeed, they have not won any of their seven away games in the knockout stages of this competition.

TEAM NEWS: The teams are in for both sides and the headline news for the Gunners is that Hector Bellerin and Kieran Gibbs return to the starting lineup. They are the only two changes made by Wenger, with Chambers and Monreal the men to make way. For Monaco, meanwhile, former Tottenham man Dimitar Berbatov starts up front, but there is no Toulalan due to suspension. Full teams for both sides coming right up...

ARSENAL STARTING XI: Ospina; Bellerin, Mertesacker, Koscielny, Gibbs; Coquelin, Cazorla, Ozil, Welbeck; Sanchez, Giroud

ARSENAL SUBS: Szczesny, Gabriel, Monreal, Chambers, Rosicky, Oxlade-Chamberlain, Walcott

MONACO STARTING XI: Subasic; Elderson, Wallace, Abdennour, Toure, Fabinho; Moutinho, Kondogbia, Dirar; Martial, Berbatov

MONACO SUBS: Stekelenburg, Kurzawa, Diallo, Matheus, Silva, Traore, Ferreira Carrasco

What can we make of those two sides, then? Well, there aren't any surprises from Arsene Wenger against his former club, with Ospina passing a late fitness test to feature ahead of Szczesny. The only two changes come at the back, with Bellerin and Gibbs replacing Chambers and Monreal on the flanks. Mertesacker and Koscielny continue in the heart of the defence, with Coquelin sat in front to protect them.

Cazorla continues in a deeper role to accommodate the likes of Ozil, Welbeck and Sanchez in front of him. Ozil has started to find his feet at the club following his return from injury and is playing some of the best football Arsenal have seen from him yet, and that could be crucial if they are to go far in this competition. The likes of him and Sanchez have proven themselves to be Champions League calibre players, and Arsenal will need both to be on top form if they are to challenge for honours in the coming years.

Giroud leads the line again having netted what proved to be the winning goal against Crystal Palace on Saturday and, while questions remain over whether the Frenchman is good enough to be the main striker for a side hoping to challenge on both the domestic and European front, his goal record is a good one for Arsenal. He has established himself as a key player for the club and looks to be thriving playing alongside Sanchez and a rejuvenated Ozil.

The Arsenal attack will have one of their stiffest challenges of the season in the shape of this Monaco defence, however. The visitors are without injured left-back Kurzawa this evening, but Abdennour is available in the centre of defence. He was sent off during Monaco's 1-0 win over Nice on Friday, but the principality club still managed to keep a clean sheet. Subasic in goal has a magnificent clean sheet record this season and, if they are clinch another tonight, then the tie would tilt in their favour.

Moutinho and Kondogbia will patrol the midfield for Monaco, and it is likely that they will have to spend a lot of time defending today. Arsenal are expected to see the lion's share of possession and, in truth, it wouldn't be a surprise to see them playing for a goalless draw from the outside. Leonardo Jardim may well look to pack the middle of the park, and the likes of Moutinho and Kondogbia will be key figures in that.

They do have weapons in attack, however, with Martial posing a threat and the familiar figure of Berbatov leading the line. The Bulgarian has not been at his best this season but has the ability to produce something special from nowhere if given the chance. He played in eight North London derbies during his time with Spurs and also scored a brace here at the Emirates in a 3-3 draw with Fulham.

PREDICTION: We're 10 minutes from kickoff at the Emirates, which means that it is time for a prediction! Arsenal come into this game as heavy favourites, but Monaco are experts in closing games off and edging them in the dying stages - as they did against Nice on Friday. I don't expect the same to happen tonight, although it is likely to be a low-scoring affair. I think Arsenal's efforts will eventually pay off, and the Gunners will pick up a 1-0 win to take back to Monaco next month.

Incidentally, this is the first ever competitive meeting between these two sides, although they did play each other in the Emirates Cup at the start of this season. Monaco knocked Arsenal out of their own competition on that occasion, although their solitary goal came from Radamel Falcao, who of course is now on loan at Manchester United.

Arsenal have never even conceded a goal in their three meetings with French opposition at the Emirates, last losing from a team across the channel when Auxerre ran out 2-1 winners at Highbury in the 2002-03 group stages. Monaco have a good record against English sides, though, progressing in each of their last three knockout encounters. They beat Newcastle in the quarter-finals of the 1996-97 UEFA Cup before edging past Manchester United at the same stage of the Champions League a year later. They also drew 2-2 on their only previous visit to London, a result that was enough to see them past Chelsea in the semi-finals of this competition in 2004.

It is, of course, a special occasion for Arsene Wenger, who managed Monaco from 1987-94 and turned the club's ailing fortunes around during his successful stint. He led them to the Ligue 1 title as well as the Coupe de France, while also guiding them to the final of the Cup Winners' Cup and the semi-finals of the Champions League.

There is one other Champions League tie taking place tonight, with Bayer Leverkusen hosting last season's runners-up Atletico Madrid. I will keep you up to date with major events from that match as and when they happen.

KICKOFF: Arsenal get us underway for another huge night of Champions League action as they look to avoid slipping up against the biggest underdogs remaining in the tournament.

CHANCE! An early chance for Arsenal as they manage to get in behind Monaco. A long ball over the top allows Welbeck to spin his man and get into the box, but he is slightly off balance when he hits it and can only lift his effort over the top.

This has been an encouraging start from Arsenal, even if we are only a few minutes in. They have put together some slick passing moves and have already got in behind the defence a couple of times.

Almost another opening for Welbeck as he looks to have got in front of Abdennour inside the box following a low cross from the left. The Monaco defender recovers to make an important interception, but Arsenal come straight back out them. Cazorla links up with Giroud to burst down the left channel, but his ball across the six-yard box is not met by a red shirt.

Well, all the pre-match talk was about how impressive Monaco's defensive record is, but Arsenal have cut them open plenty of times already. It is a makeshift back four for Monaco tonight, and Arsenal are certainly giving them a thorough examination in these opening stages.

Monaco just can't keep the ball at the moment. Arsenal are playing it around well and them harassing Monaco quickly whenever they lose it. It is all Arsenal at the moment and they will want to take advantage of this period on top.

A hint of a penalty shout for Arsenal as Sanchez lofts a long ball over the top for Ozil to chase. Wallace just gets in front of the German and the ball does bounce up to hit him on the arm, but it was impossible for the referee to see.

Monaco have struggled when Arsenal have got the ball upfield quickly so far, and that looks to be key for the Gunners. The visitors are very effective when they have time to set up, but Arsenal have taken that chance away from them on a couple of occasions already.

Monaco have started to settle into the match a little more in the last few minutes. They win a free kick from a deep crossing position and Moutinho's delivery is decent, but Giroud is well-placed to nod it away.

You don't always associate Arsenal will hounded the opposition and winning the ball back quickly, but they have made a notable effort to do so tonight. Wenger will be content with the opening stages of this match, although they could have done with a goal in that first 10 minutes.

Bellerin has a chance to get in behind the defence as Ozil cushions a clever through-ball down the right channel, but the defender's first touch lets him down and allows Monaco to get back.

SHOT! Monaco have their first shot of the match, but it is nothing to write home about. Moutinho finds a yard of space just outside the box, but he drags his effort tamely wide.

Arsenal's tempo has gone down in the last five minutes or so and Monaco have really grown into the game as a result. Still no clear chances for either side, but the visitors are just about on top right now.

CHANCE! Half a chance for Giroud as he holds off Abdennour in the box to get on the end of a corner. There are plenty of blue shirts surrounding him in the area and he does well to get anything on the ball, but his header is directed a couple of yards wide.

Good defending from Wallace as Monaco continue to hold firm under a good spell of Arsenal pressure. Another corner was swung in by Ozil and Mertesacker looked favourite to get there at one point, only for Wallace to flick it out of the German's path.

Cazorla tries to provide a much-needed spark for his side as he drives forward from midfield, beating a couple of defenders with some nifty footwork. He looks to be lining up for a shot from 20 yards, but Kondogbia stretches one of his long legs out to make a very good challenge from behind.

Well, I have to say that this has not been the most enthralling half an hour of football that this competition has ever seen. Arsenal started well but Monaco have since settled into the game and are stifling things as only they can at the moment.

It takes Koscielny striding forward from pace to inject a bit of impetus into the Arsenal attack here, but the defender's cross deflects into the arms of Subasic. Arsenal are enjoying most of the ball here, but are struggling to do anything with it.

CHANCE! Perhaps the clearest opening of the night so far falls to Sanchez, but the Chilean was let down a little by the pass to him. Arsenal broke quickly, with Ozil picking the ball up on the edge of the box. His pass is slightly behind Sanchez, however, and he can't get the ball out from under his feet to really create a chance. He still manages to get a shot away, but puts it over the bar.

CHANCE! This certainly isn't a clear chance, but it is about as good an opening as Monaco have fashioned so far. Martial makes ground down the left and gets behind his full-back before cutting the cross in for Moutinho. It is at an awkward height for the midfielder, who produces an acrobatic volley but blazes the difficult effort well over the bar.

CHANCE! Suddenly the chances are flowing in this game! Again it is not an easy one for Giroud, but he often does better in such situations. Cazorla slides a pass down the right for the overlapping Bellerin, whose low cross eludes an attempted interception to find Giroud. The striker was perhaps put off by the defender's attempts to cut it out, however, as he skied his effort well over.

First blood goes to Monaco, who have a crucial away goal here! Welbeck loses the ball on the right wing and Monaco work it over to Kondogbia. He lines up a shot from 25 yards and his powerful effort deflects off Mertesacker and in, leaving Ospina rooted to the spot. It is a huge stroke of luck for the visitors, but they now have a lead to defend!

Arsenal look for an immediate response as the ball is looped into the area, and Giroud is unsurprisingly the man to attack it. He gets above his man but has to conjure all of the power himself, only succeeding in nodding the ball wide.

YELLOW CARD! The first card of the night goes to Coquelin, who went in heavy on Kondogbia having overrun the ball. No complaints with that one.

That goal hasn't really sparked Arsenal into life like expected. The hosts have shown a little bit more urgency once or twice but are still struggling to make any serious ground in the final third.

YELLOW CARD! Elderson becomes the second name in the book for a rash sliding challenge on Welbeck out on the right wing.

There will be one minute of added time at the end of this first half.

So far so good for Monaco, but what a drab and disappointing opening 45 minutes that was for Arsenal. The Gunners go into the break trailing at the hands of the Ligue 1 club, who have registered what could prove to be a crucial away goal. In truth, it has not been a thriller so far, but right now this is turning out to be a perfect away day from Monaco.

The goal came through Geoffrey Kondogbia, who picked the ball up in space around 25 yards from goal before unleashing a powerful effort. His strike deflected off Mertesacker, and Ospina could not react in time to prevent it flying into his net. The keeper was left rooted to the spot, while it is also hard to blame Mertesacker as the ball arrived at him very quickly.

Clear chances have been few and far between for both sides, but it is Arsenal who have created more of the shooting opportunities. Welbeck had one inside the opening couple of minutes as the Gunners started brightly, getting in behind the defence almost at will. They got the ball forward quickly, and Monaco struggled to deal with that at first.

Giroud has had a couple of half chances too, nodding one wide when under pressure and then scooping another effort well over the crossbar after being found by Bellerin inside the box. Neither were chances that you would expect him to score, but he may feel that he could have done better with both efforts.

Perhaps their best chance fell to Sanchez, but even that was a difficult one for the Chilean. Ozil's pass arrived behind Sanchez, who managed to dig out a shot from underneath his own feet but could not test the keeper. Indeed, Subasic has had very little to do all evening, with Monaco weathering the early storm and looking comfortable from that point on. They have defended well as a team, and Arsenal haven't been able to get through.

Monaco haven't exactly offered much at the other end, but the onus is not on them to do so, certainly given that they are now a goal up. Their defensive record is incredible in recent months and they have played to that strength well tonight. I'd expect Arsenal to pose more of a threat in the second half, but in that opening 45 minutes Monaco produced a textbook European away performance.

KICKOFF: Monaco get us back underway for the second half here in North London as they look to complete what would be a very good result for them to take back to the Stade Louis II next month. Kondogbia's goal is what separates the teams so far, and here he is celebrating the deflected strike:

© Getty Images

CHANCE! A chance within the opening minute of the half for Arsenal! Cazorla threads a pass down the right channel for Sanchez, who pokes the ball past the defenders before racing to the byline. He cuts his cross back to the near post where Giroud is waiting, but he can't connect with his shot properly and shins it wide.

It is so important for Arsenal to make a quick start to this half. A goal in the opening stages would raise belief in both the stands and on the field and you wouldn't bet against them then going on to win the match. However, if Monaco are allowed to do a similar stifling job as they did in the first half then it will be tough for the hosts to break out of that rut.

Decent spell of possession for the visitors as they again look to take the sting out of the game. There is more urgency about Arsenal when the ball goes dead now as they know a 1-0 defeat will leave them with a mountain to climb in the second leg.

CHANCE! Big chance for Arsenal to level things up! Cazorla swings a free kick into a really dangerous area, with Monaco having left a lot of space inside the box. Giroud gets on the end of it but, when unmarked, can't hit the target with his header. A man as good as him in the air should have scored there.

Suddenly that Giroud miss looks even more costly! Monaco double their lead with a quick break and now have the tie completely in their hands! Mertesacker leaves his man inside his own half, which allows Martial to tear through unmarked down the left. He plays it across to Berbatov, and the former Tottenham man steadies himself before thumping an effort beyond the keeper. Terrible defending from Mertesacker, and Arsenal are in real trouble now.

What have Arsenal got in response? Two away goals certainly put Monaco in control of this tie, but there is at least time for Arsenal to salvage something here. They haven't shown many signs of being able to do that, however, and suddenly the dream last-16 tie looks like being a nightmare.

CHANCE! Oh my word, what a miss from Giroud! Arsenal should have a goal back here as Sanchez stings the palms of Subasic with a powerful effort from a tight angle. Subasic parries it back out into the path of Giroud, but the striker leans back and blazes a sitter well over the crossbar! He had to score there!

UPDATE: We could be in for a shock in the other Champions League tie tonight too as Bayer Leverkusen have just taken the lead against Atletico Madrid. Hakan Calhanoglu has broken the deadlock in Germany.

ARSENAL SUB: Wenger has seen enough from Giroud after that missed chance, and the Frenchman makes way to be replaced by Theo Walcott for the final 30 minutes.

CHANCE! Big chance for Monaco to grab a third goal! It is lovely build-up play as Berbatov feeds Dirar, who in turn passes the ball inside for Moutinho. The midfielder produces a beauty of a flick to Martial in space, but Ospina is quick off his line to thwart the attacker with a vital stop.

SHOT! More good play from Moutinho as this time he goes for goal himself. The midfielder brought the ball down on his chest over on the left wing, taking it past Bellerin before unleashing a dipping volley towards goal that goes narrowly over the top.

CHANCE! Arsenal have another glorious chance to get a goal back, but once again somehow the ball doesn't end up in the back of the net! The ball is slid through for Walcott's diagonal run, but the England international's shot is well saved by Subasic. The ball bounces back out to Welbeck, whose strike hits Walcott and goes over the top with the goal gaping. Incredible.

Suicidal play from Koscielny as he gifts the ball away deep inside his own half, allowing Elderson to steal in and burst towards the box. Martial takes it off his teammate, however, and it gets a little scrappy before Arsenal can clear the danger.

ARSENAL SUB: Wenger again looks to the bench to salvage something from this game, with Alex Oxlade-Chamberlain replacing Coquelin. It is an attacking move, although Oxlade-Chamberlain will slot into the centre of midfield.

Again the diagonal run from Walcott almost causes problems as the ball in threaded inside Elderson, who has lost the winger. Subasic is quick off his line, however, and snuffs out the chance by getting to the ball just in front of Walcott.

Arsenal's heads seem to have dropped already here, with 20 minutes still remaining of the first leg. It has been such an abject performance from the Gunners and they can have no complaints at being punished for it.

Berbatov has been jeered every time he has been on the ball so far tonight, but as things stand he has got the last laugh with that crucial second goal. Here is the former Tottenham man celebrating his goal:

© Getty Images

YELLOW CARD! Bellerin is the latest name in the book for a cynical tug on Martial as the Monaco man was racing through.

MONACO SUB: Berbatov's work is done for the evening as he departs to be replaced by Yannick Ferreira-Carrasco.

Time is running out for Arsenal now. They have less than 15 minutes to get anything out of this game, even just the one goal. They give the ball away again here, though, and Martial advances before drawing a routine save from Ospina at the near post.

Yet another Arsenal attack breaks down before they can get within dangerous range of the Monaco goal. Kondogbia, Moutinho, Fabinho and Abdennour have all played their part in a fine defensive performance from the visitors tonight.

ARSENAL SUB: One final change for the hosts as Cazorla makes way to be replaced by Tomas Rosicky.

MONACO SUB: Monaco respond with a change of their own as Dirar is replaced by Layvin Kurzawa.

CHANCE! Decent chance for Sanchez at the back post as a corner is only flicked on to the back post by Wallace. Sanchez is waiting unmarked there, but he can't adjust his body in time to get a good connection on his shot.

MONACO SUB: A third and final change for the visitors as Martial trots off and Bernardo Silva comes on in his place.

Leonardo Jardim will be desperate for his side to see this match out now. The game appears to be won on the night, but a goal for Arsenal in the closing stages would leave the tie far more open. The visitors need to keep their concentration here.

YELLOW CARD! Ozil goes into the book as Monaco continue to keep the ball in the corner, winding down the clock.

SAVE! Again Monaco look to break quickly having stopped another Arsenal attack. Ferreira-Carrasco leads the charge down the right wing but goes for goal himself from a tight angle, drawing an easy save from the keeper.

A late lifeline for Arsenal! It is a superb goal from Oxlade-Chamberlain as he collects a clearance on the edge of the box before beating Kondogbia and curling a beauty of a strike past Subasic and into the top corner. How big could that goal prove to be?!

YELLOW CARD! Moutinho is the latest name in the book as Monaco look to resist late pressure from the Gunners.

Oh my word, Monaco have a third away goal in the final minute of stoppage time! Oxlade-Chamberlain loses the ball in his own half and Monaco immediately launch a counter. Silva plays the ball down the right for Ferreira-Carrasco, who races through on goal before firing a low effort across the keeper and in off the inside of the post.

Wow. What a nightmare evening for Arsenal as they concede three away goals to Monaco to leave their Champions League quarter-final hopes hanging by the slimmest of threads! Two away goals would have been a tough enough ask for the Gunners and they looked to have given themselves a lifeline late on, but that third Monaco strike deep into stoppage time has left the Gunners with a huge task.

The hosts took the lead in the first half when Kondogbia's effort deflected off Mertesacker and past Ospina, who was left rooted to the spot. Berbatov got a huge second goal less than 10 minutes into the second half, but Oxlade-Chamberlain pulled one back in the final minute of normal time to leave Arsenal dreaming of a late comeback. Ferreira-Carrasco struck on the break in the 94th minute, however, hitting a killer third goal that puts the tie firmly in Monaco's favour.

That is all we have time for this evening! Thank you very much for joining Sports Mole for what turned out to be a nightmare evening for Arsenal as they crashed to a 3-1 home defeat at the hands of Monaco in the first leg of their Champions League last-16 tie. I will leave you with our match report, and be sure to stick around for reaction, analysis and player ratings. From me, though, it is goodbye for now!