Scale Market Report: No Sign of a Price Drop

While the DAX, S&P 500, and others are suffering from the war in Iran, the Scale segment is trading sideways. Contributing to this is a company benefiting from the sharp rise in oil prices: Deutsche Rohstoff AG. The segment also has a new member in Gabler.
 

March 16, 2026. FRANKFURT (Deutsche Börse). War with Iran, rising energy prices, stock market turbulence—the Scale small-cap segment remains surprisingly stable. The Scale All Shares (DE000A2BLGY6) is moving sideways. At 1,374 points currently, there has been no net change since the start of the year—unlike the DAX, MDAX, and SDAX, which are posting losses. However, the performance of Scale members continues to vary widely.

Deutsche Rohstoff: 75 percent price gain

Deutsche Rohstoff, Cantourage, and Daldrup & Söhne have performed very well recently. Deutsche Rohstoff AG (DE000A0XYG76) is benefiting immensely from high oil prices. The stock cost less than 50 euros at the end of 2025; on Monday morning, it stood at 87 euros. The 2025 figures released last week by the oil and gas producer, which operates primarily in the U.S., were already impressive: Revenue exceeded forecasts, and EBITDA was at the upper end of the range. In addition, the company announced an acceleration of its drilling program. The research firm mwb research even believes the stock could reach 100 euros and recommends buying it. 

Cantourage on the Road to Recovery

The catalyst for the recent rise in the share price of Berlin-based medical cannabis provider Cantourage (DE000A3DSV01) was the release of its now fully audited consolidated financial statements for 2024. The research firm Montega calls this a “long-awaited administrative breakthrough” and recommends buying the stock. The price target has been raised to 8 euros. “Combined with the positive guidance for 2025, investor confidence in the sustainability of the business model is now likely to increase significantly,” the firm states.

NuWays also recommends buying the stock and sets a price target of 10 euros. “Cantourage is making good progress in several areas, including geographic expansion, the expansion of its product range, and governance structures,” it says. Regulatory uncertainties in the domestic market are “increasingly manageable.” The stock is now trading at 5.12 euros, up from 3.32 euros at the end of 2025. 

Daldrup & Söhne: A Beneficiary of Renewable Energy

Daldrup & Söhne AG (DE0007830572) is also among this year’s winners. A brief setback was quickly made up for. On Monday morning, shares in the drilling services provider from Ascheberg, Westphalia, were trading at 27.60 euros, up from 19 euros at the end of 2025. “The geothermal market has never been this large and dynamic,” CEO Andreas Tönies recently explained in an interview with the Börsen-Zeitung. The German geothermal market is benefiting from investments in renewable energies and diversification within these primary energy sources.