(Bloomberg) -- Germany’s main equity benchmark rose above 20,000 points for the first time in its history.

The DAX Index gained as much as 0.5% on Tuesday as European stocks advanced for a fourth straight session, as investors looked past political risks in France and the prospect of US tariffs under the Trump administration.

With gains of almost 20% this year the exporter-heavy benchmark, which also includes dividend payouts, is leading gains in Europe. Bets on a healthy global economy and a China recovery have supported it at a time when Germany has faced its own challenges. 

The gauge’s biggest stock, software maker SAP SE, has contributed about a third of the gain as investors seek technology plays, especially with regards to chips, cloud computing and artificial intelligence.

The index has represented the core of German listed companies since it began trading in 1988, continuing the track record of newspaper Boersen-Zeitung’s previous index, whose history goes back to 1959. 

In 2021 the gauge underwent its biggest makeover, increasing the member count to 40 from 30 and introducing stricter rules for inclusion after the implosion of Wirecard AG rocked investor confidence. Given its heavy weighting for exporters, as well as industrial and automotive sectors, the index is often considered an indicator for the state of the global economy.

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