The Los Angeles Business Journal's index of the 200 largest local public companies closed up for the week ending Oct. 9, the first gain after two weeks of decline. The upward movement was broad-based during a week in which various reports indicated the economy was on the mend.
The weighted LABJ index closed up 3.49 percent to 109.39, with gainers outnumbering decliners 124 to 54.
The biggest gainer was Salem Communications, the Christian-format radio broadcaster in Camarillo, which rose 50 percent for the week.
Another big gainer was Maguire Properties, which rose 27 percent for the week.
Nara Bancorp Inc., a Los Angeles-based bank focused on the Korean American market, rose 21 percent for the week after it signed a new employment agreement with Chief Executive Min Kim.
On the downside, drug research firm MannKind in Valencia lost 50 percent of its value after it disclosed that it won't secure a marketing partner for its inhaled insulin drug Afresa until at least 2010. Afresa is the most marketable product in the company's portfolio of experimental drugs.
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