LIVERPOOL FC were only able to take a point from the Emirates Stadium despite taking a two goal lead in a thrilling Barclays Premier League clash.

Both sides knew defeat could prove fatal to their hopes of closing back up on the top four, but neither looked ready to settle for anything other than all three points in an open and entertaining match.

Liverpool took an early lead through Luis Suarez after terrible defending by Arsenal, and then looked to be in complete control when Jordan Henderson walked in a second on the hour.

However, as so often in a frustrating season, the Gunners suddenly burst into life as in-form Olivier Giroud reduced the deficit with a close-range header and Theo Walcott then rattled in an equaliser.

There were more chances at each end, but defeat for either side would have been an injustice.

Liverpool manager Brendan Rodgers had recalled his regulars tonight, making seven changes from the side humiliated at Oldham in the FA Cup on Sunday.

It was a bright start by the Reds, their travelling support displaying a banner protesting against the infamous £62 tickets for away fans.

A slip by Bacary Sagna let Glen Johnson away down the left.

His cross into the Arsenal penalty area was miskicked by Thomas Vermaelen, just back from an ankle injury, and Wojciech Szczesny produced a good reaction save from Daniel Sturridge at the far post.

Midfielder Aaron Ramsey, though, failed to clear with a tame flick and the ball broke for Suarez, whose curling shot then deflected off Per Mertesacker to wrongfoot the goalkeeper.

Arsenal almost produced an immediate response as Walcott got ahead of Jamie Carragher, but his snapshot was straight at Jose Reina.

The match remained open, with Sturridge dragging an angled shot across the face of goal.

Arsenal also continued to press, and Reina was again called into action as he turned a curling effort from Walcott around the post.