Rieks volleys in at back post, then Birmancevic rolls in within two minutes
Davis lashes in 95th-minute goal to revive hopes
Rangers must win two ties to reach group stages
Winner will play Olympiakos or Ludogorets; loser faces Kairat Almaty or Alashkert in Europa League
Malmo beat HJK Helsinki in last round
That's all for the live coverage tonight but we're back on Thursday with a bumper night of European football.
Celtic and St Johnstone go in the Europa League, while Aberdeen and Hibernian are in the Conference League.
The Celtic game, away to Czech side Jablonec, is getting the full telly treatment and will be live on BBC Scotland.
As ever, we'll have all of the action covered right here.
Cheers for now.
FT: Malmo 2-1 Rangers
"I'm disappointed with the couple of goals we've conceded but there's been a big moment at the end of that game that's gone in our favour," Rangers manager Steven Gerrard tells RangersTV.
"It's a big moment and it sets it up for next week. It's not the position we wanted to be in but it's a lot better than going in at 2-0. We were also on the verge of it being worse as well.
"The injury time has been big for us but our performance over the 90 minutes hasn't been good enough."
Image source, SNSCan Rangers use home advantage to rescue the tie?
FT: Malmo 2-1 Rangers
Rangers only made one change tonight, replacing Cedric Itten with Fashion Sakala. Steven Gerrard will be hoping to have a larger squad at his disposal for the return leg.
Kemar Roofe and Glen Kamara remain suspended though.
FT: Malmo 2-1 Rangers
Richard Foster
Former Rangers defender on BBC Radio Scotland
Quote MessageI expect Rangers to be more expansive but if they do that they open themselves to the counter. Malmo have a real confidence in the way they play. There's no panic defending, it's all assured
FT: Malmo 2-1 Rangers
Richard Foster
Former Rangers defender on BBC Radio Scotland
Quote MessageSteven Gerrard won't be happy with the performance but he will be happy with the outcome. It looked at points like the tie would be beyond them
Image source, SNSRangers manager Steven Gerrard at full-time
FT: Malmo 2-1 Rangers
The second leg is at Ibrox next Tuesday. The stadium won't be full but you can be sure those lucky enough to get tickets will be making a hell of a racket.
Slavia Prague and Bayer Leverkusen are the only sides to have won at Ibrox since Steven Gerrard took over.
FT: Malmo 2-1 Rangers
Chris Burke
Former Rangers winger on BBC Radio Scotland
Quote MessageRangers will be back in that changing room thinking they've got away with one a bit. Malmo defended very, very well. They were excellent at defending their box and Rangers goal was a little bit lucky
FT: Malmo 2-1 Rangers
Just having another look at that Steven Davis goal... The shot goes through the legs of the first defender then clips a second, who was sliding in. The trajectory changes to deceive the goalie and it flies just inside the post. The perfect spot. No chance for Johan Dahlin to readjust.
Image source, SNSFT: Malmo 2-1 Rangers
Chris Burke
Former Rangers winger on BBC Radio Scotland
Quote MessageYou see it in Malmo's body language. That's a killer blow. Rangers will be delighted with that. I fancy their chances now, especially with fans back at Ibrox
FT: Malmo 2-1 Rangers
Rangers were in real bother after a sloppy start to the second half when they conceded two soft goals but the complexion of the tie has changed significantly now that the deficit is down to one.
They kept going right to the end and eventually found a way past goalkeeper Johan Dahlin, who had been largely untroubled in the previous 94 minutes.
And that's it... No time for the re-start.
Rangers may have lost that game but they'll be feeling a lot better about themselves as they troop off after that late, late show from Steven Davis.
Image source, SNSRangers lost two goals early in the second half
Steven Davis
A vital lifeline for Rangers as Steven Davis has a pop from the edge of the box and his shot takes a slight deflection to leave the keeper flat-footed.
Image source, BBC SportMalmo 2-0 Rangers
The away goals rule is a thing of the past now but a goal for Rangers would make a huge difference. Can they summon one last chance?
Malmo 2-0 Rangers
Richard Foster
Former Rangers defender on BBC Radio Scotland
Quote MessageRangers will fancy their chances of scoring twice at Ibrox. We'll see them open up a bit more in the second leg. But they can't let this get any worse. 3-0 would be beyond them
Malmo 2-0 Rangers
The ground is rocking with jubilant fans as we enter five minutes of stoppage time.
Malmo 2-0 Rangers
A Filip Helander header from a free-kick almost drops for Scott Arfield but a great tackle from substitute Felix Beijmo denies the Rangers midfielder a shooting chance inside a busy penalty box.
Malmo 2-0 Rangers
Malmo are pretty much just smashing the ball away any time it comes near them and keeping 10 men in their own half.
Time is running out for Rangers to break them down.
Malmo 2-0 Rangers
Richard Foster
Former Rangers defender on BBC Radio Scotland
Quote MessageIf I'm Cedric Itten sitting on the bench, I'd be wondering where these balls were when I was on the pitch. He would be relishing these deliveries into the box
Malmo 2-0 Rangers
Malmo are pinned back now as a thumping shot from Scott Wright almost knocks a defender off his feet.
Malmo 2-0 Rangers
James Tavernier leaps well at the back post to meet a deep cross from fellow full-back Borna Barisic. The ball is steered down into six yard box but no Rangers player can get a touch.