Markets: Eerie calm

Markets: Eerie calm

it is not clear when market sentiment can change; as in the past, it can be quite sudden.
At a turn and yet not

At a turn and yet not

RBI could be tempted to cut policy rate to support growth at its bi-monthly review.

Manchester City, Arsenal suffer European blues

Dec 05 2012, 11:16 IST
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Paris St Germain's Zlatan Ibrahimovic hugs FC Porto's Helton at the end of their team's Champions League soccer match in Paris. (Reuters) Paris St Germain's Zlatan Ibrahimovic hugs FC Porto's Helton at the end of their team's Champions League soccer match in Paris. (Reuters)
SummaryGunners now facing a tough Last 16 draw while City are without even consolation of Europa League spot.

English champions Manchester City and rivals Arsenal both slumped to defeats in their final Champions League group matches leaving City without even the consolation of a Europa League spot and the Gunners failing to top their group and facing a tough Last 16 draw.

City bowed out with a passionless performance in a 1-0 defeat away to a largely second string Borussia Dortmund side, who topped the group, while City finished bottom with three points, the lowest amount recorded by an English side in the history of the group phase.

Ajax took the Europa League place despite losing 4-1 away at Real Madrid. Arsenal let slip a 1-0 lead to lose 2-1 away at Olympiakos, who secured a deserved Europa League place while German outfit Schalke 04's 1-1 draw away at Montpellier ensured they edged out Arsenal for top spot.

That will only increase the pressure on the English side's previously untouchable manager Arsene Wenger with their domestic title hopes already all but over as they trail leaders Manchester United by 15 points.

While Wenger may be starting to feel the heat, the pressure eased a bit on Carlo Ancelotti, manager of big spending Paris Saint Germain and a side that Wenger has been linked with, as the French outfit beat Porto 2-1 to leapfrog them and top their group.

"I am sure that now things will quickly get better in the league. There is no problem in the PSG dressing room, when you have to build a team with a lot of new players, it takes time, that's only natural," said Ancelotti.

There was to be some consolation for the hard-pressed fans of that group's bottom side Dinamo Zagreb as Ivan Krstanovic gained them their only point of the group phase with a penalty five minutes into time for a 1-1 draw with Dynamo Kiev added on in a game played in heavy snow in Zagreb.

In the other group the only outstanding issue was settled as Russian side Zenit St Petersburg withstood enormous pressure from already qualified seven-time champions AC Milan to win 1-0 away in Italy and take third place and a Europa League spot at the expense of Anderlecht.

Manchester City were undone by Julian Schieber, who crowned his first Champions League appearance of the season to score Dortmund's winner when he slotted home from a brilliant low cross by Polish star Jakub Blaszczykowski in the 57th minute. It left City's outstanding goalkeeper Joe

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