The summer transfer window has now begun, with rumours and speculation continuing to swirl as Arsenal eye possible reinforcements.

The Gunners spent more than many expected last summer - most notably their club-record purchase of Nicolas Pepe - but were more reserved in January as they focused on bolstering their defensive options.

Here, Sports Mole rounds up the latest news on possible comings and goings at the Emirates Stadium.

Saturday morning's Arsenal transfer talk news roundup:

Arsenal agree five-year deal for Lyon midfielder Houssem Aouar?

Arsenal have reportedly already agreed terms with Houssem Aouar on a five-year deal and remain confident of finalising a transfer for the Lyon midfielder.

The 22-year-old is one of two midfielders believed to be on Mikel Arteta's radar, along with Atletico Madrid ace Thomas Partey, ahead of the October 5 deadline.

Lyon sporting director Juninho Pernambucano revealed earlier this week that no bids have yet been tabled, but that could soon be about to change.

Italian journalist Nicolo Schira suggests that while talks are ongoing between the two clubs, the France Under-21s international has made clear that he wants to move to the Emirates Stadium.

Aouar is said to have agreed terms with Arsenal as long as two weeks ago, leaving it down to the Gunners and Ligue 1 club Lyon to shake hands on a transfer fee.

Arteta has already strengthened his squad this summer with the arrivals of Gabriel, Willian and William Saliba.

Lyon president Jean-Michel Aulas does not expect Arsenal to sign Houssem Aouar

Lyon president Jean-Michel Aulas has revealed that Arsenal have yet to make an offer for Houssem Aouar and says he does not expect the Gunners to sign the midfielder.

Reports this week suggested that Arsenal have already agreed terms with the France international and are now preparing a big-money offer to prise him away from Lyon.

However, providing an update on the long-running transfer saga on Friday, Aulas played down claims that Aouar is close to making a move to the Emirates Stadium.

Asked by football journalist Chris Wheatley if he believes that Arsenal will sign the 22-year-old, Aulas said: "No, I don't think so.

"There is no offer yet. It seems that Arsenal don't want to, or can't invest the price for Houssem, who is our best player."

Aouar has spent his entire career with Lyon, making 139 appearances for the French side in all competitions.

More transfer news from Arsenal:

Report: Arsenal set loan condition by Brentford in David Raya deal
A report claims that Arsenal will have to agree to loan David Raya straight back to Brentford if they wish to sign the Spanish goalkeeper this summer. Read more.

Liverpool 'contact Barcelona over Ousmane Dembele'
Liverpool approach Barcelona to discuss a loan move for French attacker Ousmane Dembele, according to a report. Read more.

Arsenal, Leeds United, Wolverhampton Wanderers want Reading's Michael Olise?
Reading youngster Michael Olise reportedly emerges as a transfer target for Arsenal, Leeds United and Wolverhampton Wanderers. Read more.