Delegates from the United States and China are set to meet Monday in London after a phone call between the nations' leaders seemingly led to a cooling of tensions related to their otherwise heated recent trade dispute.

A new round of talks aimed at resolving a trade war between the US and China is set take place in London on Monday. US President Donald Trump announced on Friday that a senior US delegation would meet Chinese representatives. Over weekend, Beijing's Ministry of Foreign Affairs confirmed that Vice Premier He Lifeng will attend the talks.

London's benchmark index slipped on Monday after rounding off four weeks of gains, as caution prevailed ahead of much-awaited U.S.-China talks later in the day.