German stocks closed flat on Monday, with the benchmark DAX index down 30.05 points, or 0.23 percent, to close at 13,123.65 points.

German maker of sportswear and equipment Adidas lost 2.93 percent, the top loser among the blue chips, followed by energy group E.ON and telecommunications company Deutsche Telekom which lost 2.25 and 1.30 percent respectively.

Manufacturing and electronics company Siemens gained 1.41 percent, becoming the top gainer. Industrial giant Thyssenkrupp advanced 1.34 percent. Pharmaceutical company Merck went up by 1.07 percent.

Siemens was the most traded share with a turnover of 337.90 million euros (398.58 million U.S. dollars).