Why Meteroic Resources, NAB, PEXA, and Qube shares are pushing higher today

These shares are having a strong session on Thursday. But why?

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to bounce back with a decent gain. At the time of writing, the benchmark index is up 0.4% to 7,600 points.

Four ASX shares that are rising more than most today are listed below. Here's why they are pushing higher:

Meteoric Resources NL (ASX: MEI)

The Meteoric Resources share price is up 7% to 23 cents. This morning, the company announced that it has entered into a non-binding memorandum of understanding (MOU) with Neo Performance Materials Inc. (TSX: NEO). The agreement is for offtake of 3,000 metric tonnes (MT) total rare earth oxide (TREO) per year from its Caldeira Project in Brazil. This offtake will be used to supply Neo's magnet manufacturing plant. Neo also holds a right of first refusal to purchase additional material when the Caldeira Project produces more than 6,000 MT of TREO per year.

National Australia Bank Ltd (ASX: NAB)

The National Australia Bank share price is up 2% to $34.44. This follows the release of the banking giant's half-year results this morning. Although NAB posted a sizeable year on year decline in cash earnings to $3.5 billion, this was in line with expectations. Coming in ahead of estimates was its interim dividend, which increased slightly to a fully franked 84 cents per share despite the weaker earnings. News of an additional $1.5 billion on-market share buy-back also went down well with investors.

PEXA Group Ltd (ASX: PXA)

The PEXA Group share price is up 12% to $13.70. This morning, this property settlements technology company announced that it is progressing a strategic partnership with UK bank NatWest. This partnership will see the lender utilise PEXA's world-leading digital property exchange technology to deliver 48-hour remortgage transactions to its customers. The bank will also extend its use of the PEXA platform to speed up the handling of sale and purchase transactions.

Qube Holdings Ltd (ASX: QUB)

The Qube share price is up almost 7% to $3.50. This follows the release of a trading update from the logistics solutions company after the market close on Wednesday. Qube revealed that it has continued to deliver underlying earnings growth in the second half. This was driven by all markets performing in line with or ahead of expectations. As a result, it now expects to deliver underlying earnings growth in FY 2024 of 10% to 15%. This compares to its previous guidance range of 5% to 10% growth.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Neo Performance Materials and PEXA Group. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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