The Los Angeles Business Journal’s index of the 200 largest local public companies closed up for the week ended July 24 as better-than-expected earnings reports fueled a continuing rally in most markets.

The weighted LABJ index added 2.73 percent to close at 101.32, with gainers outpacing decliners 120 to 55.

HI Shear Technology Corp. rose more than more than 22 percent to $10 after the board of the Torrance aerospace supplier approved a dividend of 75 cents per share.

Center Financial Corp. rose 21 percent to $2.89 after the Los Angeles bank holding company said it had sharply increased loan loss provisions and net charge-offs to head off potential problems in its credit portfolio.

Among the largest decliners for the week was Los Angeles metals products producer Reliance Steel & Aluminum Co., which fell 7.4 percent to $35.99 on disappointing earnings and an analyst downgrade.

City National Corp., the Los Angeles parent of the county’s largest locally based bank, fell 7.3 percent to $34.02 after lower earnings were announced despite a dramatic increase in deposits.

East West Bancorp, parent of the county’s second largest local bank, fell 6.9 percent to $6.88 after the Pasadena company priced a secondary offering at a 6 percent discount.