Pub company shares are suffering on the market because “panic is being overplayed”, according to one investment banker. Pub groups were among the worst hit companies at the end of trading yesterday, with both Enterprise Inns and Punch Taverns suffering losses. Enterprise, which was relegated from the FTSE 100, saw its shares drop 26.5p to 200.5p and shares in Punch Taverns fell 23.75p to 212.75p on Monday night. Commenting on the drop in values at M&C Report’s Future of Pub Retailing 2008 (FOPR), Anthony Gutman, managing director (leisure) at Goldman Sachs said: “The problem is that people think they (pub groups) are going to go bust.” But he added that banks were being more tolerant – because the last thing they want to do, “is run a pub.” Gutman said that hedge funds were still investing in pub groups and looking at the long term – rather than short selling the stocks. “I think that panic is being overplayed,” he concluded.