Google shares hit all-time high

It's not a bad day to be Google.

The search giant's shares soared to an all-time high today amid hopes it will soon resolve its European antitrust issues.

Google reportedly handed a settlement proposal to the European Commission yesterday, just making the deadline to respond to an inquiry into possible antitrust issues.

The EU's probe was opened in 2010 when European regulators asked the company to explain how it ranked search results and advertising after complaints of anticompetitive behavior from European businesses. Google has been trying to settle the case since it started as it faces a fine of up to 10 percent of its global revenue.

Related stories:

• Google hands settlement proposal to EU on antitrust -- report


• Google revenue hits $14.42B in fourth quarter, up 36 percent


• Apple's post-earnings stock slide continues


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  by Shara Tibken via CNET