With just a few hours left of the first trading quarter of 2015, European stocks have bolted out of the starting blocks with a gain of around 17 percent year-to-date for the Euro Stoxx 600 index.
This is the best quarterly percentage gain since the third quarter of 2009, when equities stocks were rebounding fiercely from the global financial crash. It's also the best first-quarter gain since 1998.
Analysts are unanimous in believing that the extra liquidity provided by the European Central Bank (ECB) has aided these gains, along with better-than-expected economic data. Senior Analyst Laith Khalaf at Hargreaves Lansdown told CNBC via email that valuations have also been supportive for a "relatively unloved region which has been written off as a basket case by many."
And there could be more gains on the way, according to Steve Miley, a technical strategist at TheMarketChartist.com, who sees further upside into the second quarter after the European benchmark resisted a deeper correct late last year.
Chris Beauchamp, a market analyst at IG Markets, is equally positive. "We've seen big gains in stocks over the past two months, but there is a lot more to come," he told CNBC via email.
—By CNBC's Matt Clinch, posted March 31, 2015.