European stocks could rally on a declining euro and hints from European Central Bank (ECB) President Mario Draghi that further aggressive stimulus measures could be on the way—although not all analysts agree.
"My view is that going into the first quarter, the European market will be a 'buy'," Manish Singh, head of investments at Crossbridge Capital, told CNBC on Friday.
European stocks gained and the euro fell on Thursday after Draghi said the ECB was unified in its desire to instigate more stimulus programs if needed to boost the euro zone's struggling economy.
"Should it become necessary to further address risks of too prolonged a period of low inflation, the Governing Council is unanimous in its commitment to using additional unconventional instruments within its mandate," Draghi said at his regular press conference.
"The Governing Council has tasked ECB staff and the relevant euro system committees with ensuring the timely preparation of further measures to be implemented, if needed."