German stocks closed flat on Monday, with the benchmark DAX index down 15.69 points, or 0.12 percent, to close at 13,324.48 points.

Commerzbank lost 1.96 percent, the top loser among the blue chips, followed by and Deutsche Bank and housing association Vonovia, which lost 1.69 and 1.39 percent respectively.

European health care company Fresenius SE gained 0.60 percent, the top gainer. Multinational chemical firm Linde advanced 0.60 percent, and European mass media company ProSiebenSat.1 went up by 0.40 percent.

Manufacturing and electronics company Siemens was the most traded share, with a turnover of 232.70 million euros (288.05 million U.S. dollars).