French club AS Monaco have beaten Arsenal 1-0 in the final of the Emirates Cup.
Radamel Falcao scored the only goal of the Emirates Stadium contest when he headed home Joao Moutinho's free-kick in the 37th minute.
Hosts Arsenal required only a draw against Monaco to clinch their own trophy but failed in their quest to make it four Emirates Cups, handing the title to Valencia.
The Gunners were unlucky not to have a penalty when Chuba Akpom was brought down by substitute Monaco keeper Danijel Subasic late in the match but referee Martin Atkinson changed his initial decision on the advice of his assistant.
The loss saw Arsene Wenger's men finish second on the table following their 5-1 win over Portuguese giants Benfica, behind Valencia who defeated Benfica 3-1 after a 2-2 draw with Monaco.
Monaco finished in third position on a win and a draw while Benfica held up the other three sides after conceding eight goals in two matches.
Arsenal's Yaya Sanogo finished on top of the goalscorers chart courtesy of a four-goal haul in the demolition of Benfica.
