HIT ENTERTAINMENT fell to a two-month low on fears that the Bob the Builder and Thomas the Tank Engine media group may feel the after-effects of a poor Christmas for retailers.

Shares in HIT have recently benefited from the hiring of Charles Burdick, formerly of Telewest, as chief executive, and persistent stakebuilding by John De Mol, the Dutch creator of Big Brother, who on Thursday declared a raised 9.1 per cent stake. But Dresdner Kleinwort Wasserstein moved from “add” to “hold” yesterday, citing concerns over Christmas trading, pointing to poor toy sales reported by Woolworths and Argos, and a pre-Christmas profit warning from Wal-Mart. HIT fell 8¼p to 251½p, with the FTSE 250 up 29.5 at 7,049.8.

Ottakar’s rose 10½p to 299½p on talk that last week’s share price retreat, triggered by a poor Christmas, may revive the interest of Barnes & Noble. The US bookstore operator cast an eye over the chain shortly after it floated in 1998, partly in response to rival Borders’ purchase of Books Etc, but dealers say that Ottakar’s growth into Britain’s third-biggest bookseller behind WH Smith and HMV Waterstones could underpin the logic of a fresh move.

Vague talk of a private equity bid pushed Bristol Water up 11½p to 581½p, while hopes of an imminent offer for Mersey Docks from CVC Capital saw the port operator rise 22½p at 960½p. Countryside Properties bounced 13½p at 276p as Rock Pacific, the offshore vehicle which is expected to bid if the 275p management buyout of the housebuilder fails, extended the maturity on its contracts for difference to April 7.

Investec lost 61p to £15.84 as Alan Tapnack, director, sold 11,554 shares at £15.90.

TripleArc, the AIM-listed print management specialist, held steady at 19p as Altium Capital placed 15.9 million shares, or a 7.7 per cent stake, with clients at 18½p. The bulk of the stock, or some 12.7 million, came from former chairman Tim Brettell, the founder of AccessPlus, which merged with TripleArc in 2003.

Clipper Ventures, the AIM-listed yacht race organiser, was pegged at 19p despite the purchase of 100,000 shares apiece at the same price by Sir Robin Knox-Johnston, chairman, and William Ward, chief executive.

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