The All Ordinaries index gained 11.1 points to end the day 0.25% higher at 4,445.
Seven West Media Ltd (SWM) fell 22.81% to close at $2.91 after announcing after the market closed on Tuesday that an anticipated improvement in the advertising market in the final quarter of FY12 is now unlikely to eventuate. Thus the directors have provided EBIT guidance of $460-470m for FY12, well below market consensus of $509m.