Bayern Munich coach Pep Guardiola and captain Philipp Lahm were left to lament wasted opportunities as their winning run ended with a 2-0 UEFA Champions League defeat at Arsenal.

A pulsating first half, where chances were shared between the sides, gave way to a Bayern possession clinic after the interval as Guardiola's men threatened to grind their Group F opponent into submission.

But they could not turn their dominance into goals and a howling error from goalkeeper Manuel Neuer - who earlier made a remarkable stop from Theo Walcott - handed substitute Olivier Giroud a 77th-minute opener.

Mesut Ozil added a second on the counter-attack as Bayern pushed forward deep into stoppage time, ending a streak of 12 consecutive victories in all competitions.

"We had chances to win but congratulations to Arsenal," Guardiola said. "In the Champions League you need to be perfect in every aspect. There were some areas where we weren't today.

"We played to control the game and create chances. I am proud of how we played.

"We played with huge personality. We came here to close our qualification and we could not do that so we now have to go to the next game."

Lahm told reporters: "In the decisive moments of the game, we failed to score.

"Arsenal were very dangerous on counter-attacks. They are the strongest opponent in our group."