ECB President Mario Draghi signaled on Thursday that the central bank is prepared to undertake another large stimulus package to tackle the lackluster growth seen in the euro zone.
"It was not a wait-and-see, but it was a work-and-assess. We are ready to act if needed, we are open to a whole menu of monetary policy instruments," Draghi said at the ECB's governing council meeting.
Following the news, the pan-European STOXX 600 powered up 2 percent, with all sectors closing in positive territory.
Across the pond, Wall Street surged nearly 2 percent overnight, with the Dow Jones Industrial Average posting its best day since September 8.
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