After an indifferent start, Europe's equity markets posted stellar gains on the first day of the brand new trading quarter, with many analysts predicting further upside for the region in the next three months.
The pan-European Euro Stoxx 600 index clocked gains of around 17 percent in the first quarter -- its best quarterly percentage gain since the third quarter of 2009 and the best first-quarter gain since 1998.
And Chris Beauchamp, a market analyst at IG Markets, is expecting more.
"I think the launch of QE (quantitative easing) has clearly handed the initiative to the equity bulls as far as Europe is concerned", he told CNBC via email.
"Essentially the 'Draghi put' is now in place and, while the concerns about euro zone disintegration can be put to one side, there is essentially no real reason to short European equities."
With 60 billion euros ($88.8 billion) a month being pumped into the economy by the European Central Bank (ECB), the euro has depreciated fiercely against other major currencies on the back of this extra liquidity.