The Reds skipper kept his composure from the spot to send Leo Franco the wrong way and earn a richly deserved point after Maxi Rodriguez's first-half effort had threatened to give the visitors a shock triumph.

It means a win over Marseille in Matchday Five will book Rafael Benitez's side's place in the last 16 after the French outfit defeated PSV Eindhoven.

It was the perfect end to a night that began in promising fashion with the Reds going close to opening the scoring inside three minutes.

A corner from the right caused problems for the visitors' rearguard and just when it seemed Daniel Agger would capitalise from six yards the Dane was challenged from behind. The centre back raised his arms to appeal for the spot-kick but despite the roar of disapproval from the crowd, the referee waved it away and Atletico survived.

Javier Aguirre's side had already shown their attacking potency in the 1-1 draw at the Vicente Calderon a fortnight earlier, but for all their good approach play they remain susceptible to mistakes at the back.

Indeed, they were breathing another huge sigh of relief on 14 minutes when Robbie Keane fizzed a volley inches wide of Leo Franco's near post after Xabi Alonso's searching ball caught out John Heitinga.

The let-off brought an almost instant response from the Atletico frontline and they should have gone ahead four minutes later but only Simao Sabrosa will know he blazed over from six yards after great play down the left by Mariano Pernia.

The game was beginning to bubble up nicely and with both sides looking to push forward at every opportunity it was proving to be an entertaining spectacle for the Anfield faithful.

All that was missing was a goal, but try as they might the Reds couldn't find a first-half breakthrough.

Keane was industrious throughout the first 45 but he was guilty of wasting a glorious chance on 33 minutes when he raced onto Jamie Carragher's misplaced pass and tried to round Franco, but the Atletico stopper was alert enough to force him wide.

It would prove costly too, as the away side broke down the right on 38 minutes and snatched a surprise interval lead.

Antonio Lopez did the spade work on the flank before laying the ball inside to the returning Maxi Rodriguez, who took the ball on the burst before unleashing a low drive into the far corner of Reina's net.

It left Rafa's comeback Kings with it all to do in the second half as chances came and went without the finish.

First referee Martin Hansson infuriated the home support when he again refused to point to the spot after Paulo Assuncao appeared to handle under pressure from Keane.

Agger was then left punching the net in frustration on 56 minutes when he beat Franco to Fabio Aurelio's free-kick, only to see his header bounce on to the top of the Kop end net.

The crowd sensed a goal was in the offing and it was the Denmark international who again came closest to the equaliser when he brought a smart stop out of Franco after he met Kuyt's deflected knock down on the turn.

Next it was the skipper's turn to show his frustration as his superb exchange of passes with Keane ended with him arrowing a shot just over the top.

It was all Liverpool and they continued to carve out openings with substitute David Ngog forcing a good save from Franco before Agger somehow managed to guide a header wide when it seemed easier to score.

It looked like being one of those days for the Reds, but with time running out the skipper went down in the box, before picking himself up and firing home on 95 minutes to earn a deserved share of the spoils.