Captain Steven Gerrard scored a late penalty as Liverpool secured a thrilling 4-2 win over Arsenal on a night of high drama at Anfield.

The Gunners took an early lead through Abou Diaby in the 13th minute, only for Sami Hyypia to level.

Fernando Torres fired the Reds in front, but Emmanuel Adebayor looked to have put the Gunners through with a second late away goal after a brilliant 45-yard run by Theo Walcott before Gerrard won it from the spot. Substitute Ryan Babel added a fourth in stoppage time.

Gerrard settled the match with his spotkick after Kolo Toure was adjudged to have brought down Babel.