German shares closed flat on Friday, with the benchmark DAX index down 21.64 points, or 0.17 percent, to close at 12,518.81 points.

German global banking and financial services company Deutsche Bank lost the most among the blue chips, down by 1.46 percent, followed by multinational chemical and pharmaceutical companies Bayer and Merck, which lost 1.26 percent and 0.80 percent respectively.

Tire specialist Continental, marketplace organizer for the trading of shares and securities Deutsche Boerse group and automotive manufacturer Daimler were the top three winners, rising 1.13 percent, 1.03 percent and 0.75 percent respectively.

Manufacturing and electronics company Siemens was the most traded share of the day with a turnover of 733.13 million euros (877.04 million U.S. dollars).