The Los Angeles Business Journal’s index of the largest local public companies closed up slightly for the week ended Aug. 27 after Fed Chairman Ben Bernanke vowed to protect the economic recovery in the event of “unexpected developments.”

The weighted LABJ Stock Index closed up 0.65 percent to 116.68, with gainers outpacing decliners 119 to 35. Stocks of 43 companies were unchanged.

The largest gainer among stocks with a share price exceeding $1 was Cadiz Inc., a Los Angeles company that has been stymied in its efforts to develop its extensive desert landholdings. After declining all week, shares rallied Friday and closed up 14.3 percent to $11.44.

Physicians Formula Holdings Inc., an Azusa mass-market cosmetics maker, closed up 13.6 percent to $3.50. It had been on a downward trajectory this month after disappointing second quarter earnings.

Peerless Systems Corp., an El Segundo digital document technology company, rose 12.3 percent to close at $3.19. The company announced Friday it would buy back as many as 14 million shares of its stock for $3.25 per share.

The leading decliner with a share price exceeding $1 was Bidz.com, an online jewelry retailer based in Culver City that has been hit hard by reduced consumer spending. Shares fell 7.4 percent to $1.51.

Ever-Glory International Group Inc., a West Covina-based apparel maker that runs a chain of retail stores in China, closed down 4.4 percent to $2.58. It reported disappointing second quarter earnings this month.