Investor morale in the euro zone rose more than expected in January, hitting its highest level since February due to growing confidence about a successful vaccination strategy to tackle the coronavirus pandemic.

Sentix's index for the euro zone climbed into positive territory for the first time in almost a year, reaching 1.3 from a level of -2.7 in December. 

A Reuters poll had pointed to a reading of 0.7. 

The expectations index rose to an all-time high of 33.5 from 29.3 while the current situation index came in at -26.5, its highest level since March and compared to -30.3 in December. 

In a statement, Sentix said the overall index reading was surprising given the far-reaching restrictions on economic activity. 

"Now that more vaccines have been approved, investors apparently expect a quick implementation of the vaccination strategy and thus a definitive end to the economic and personal freedom restrictions," Sentix said in a statement.

Sentix surveyed 1,168 investors from January 7 to January 9.