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Conservative Mauricio Macri wins Argentina presidency Conservative Mauricio Macri wins Argentina presidency
(about 2 hours later)
Conservative Mauricio Macri has been confirmed as the winner in Argentina's presidential elections, as his ruling party opponent conceded. Conservative Mauricio Macri has been confirmed as the winner in Argentina's presidential elections after his ruling party opponent conceded.
With almost all votes counted, Mr Macri had 52% to Daniel Scioli's 48%. With almost all votes counted, Mr Macri led Daniel Scioli by 51.5% to 48.5%.
Loud cheers erupted at Mr Macri's campaign headquarters after TV exit polls suggested he had won. He danced on stage at a victory rally at his Buenos Aires headquarters and thanked his staff for their support.
Mr Macri, the mayor of Buenos Aires, lost to Mr Scioli, who is the governor of Buenos Aires province, in the first round of voting in October. "Today is a historic day," said Mr Macri, addressing thousands of cheering supporters. "It's the changing of an era."
But neither candidate managed to win the vote outright, forcing a run-off - the first in the country's history - and Mr Scioli lost ground to his rival in the month since. Sunday's victory completes a turnaround for Mr Macri, who is currently mayor of Buenos Aires, after he lost in the first round of voting to Mr Scioli.
Mr Macri's victory will be the first in more than a decade for Argentina's centre-right opposition. But Mr Scioli, who is the governor of Buenos Aires province, did not command enough of a lead to win the vote outright, forcing a run-off - the first in the country's history.
He went into Sunday's vote with a comfortable lead in opinion polls, and campaigned on pledges to bring new investment into the ailing economy, tackle crime and fight corruption. Mr Macri went into Sunday's vote with a comfortable lead in opinion polls, and campaigned on pledges to bring new investment into the ailing economy, tackle crime and fight corruption.
Analysis: Daniel Gallas, BBC South America business correspondent His victory is the first in more than a decade for Argentina's centre-right opposition.
A month ago, Argentina looked set to elect Daniel Scioli and keep President Cristina Fernandez's party in power. But in the run-off vote on Sunday - the first in Argentina's history - voters opted for radical change, electing free-market candidate Mauricio Macri. A divided Argentina - Wyre Davies in Buenos Aires
After a campaign marked by strong mutual attacks, tonight both Mr Macri and Mr Scioli gave measured, respectful speeches after results were announced - perhaps a sign that there can be a constructive dialogue in the coming few days. As he danced around on the stage, like an embarrassing grandfather at a wedding, Mauricio Macri couldn't care less - he'd produced an election result against a party that has dominated Argentine politics for more than a decade - a result that few would have predicted just a few months ago.
Mr Macri will have a lot on his plate in the coming days and after 10 December, when he takes office. In the end it was close, about a 3% margin over the deflated Daniel Scioli. He'd been handpicked by the outgoing president but could never match Cristina Fernandez de Kirchner's charisma or her bond with the Peronist Party's working class base.
Markets will be watching how he ends currency controls - one of his key promises to get Argentina growing strongly again. He will also need to build a coalition in Congress, as he does not have the majority to rule. Economic reform will be Mr Macri's number one priority but he gave little away in his victory speech. It will not, though, be easy. Argentina is divided. While most of the white, middle class supporters at the victory rally will hope for a more liberal, open economic climate - the working class, banner waving youth at the ruling party "wake" will hope that warnings about welfare reform and government cuts do not materialise.
The son of one of Argentina's richest men, he had a long career in business before entering politics. The son of one of Argentina's richest men, Mr Macri had a long career in business before entering politics.
A close ally of current President Cristina Fernandez de Kirchner, Mr Scioli had been expected to win by a greater margin in October. In 1991, he was kidnapped and kept captive for 12 days by a gang of corrupt policemen demanding millions in ransom.
Four years later, he became president of Boca Juniors Football Club and used his success at the club as a springboard for his political career.
Mr Scioli, a close ally of outgoing President Cristina Fernandez de Kirchner, had been expected to win by a greater margin in October.
He tried to regain momentum before Sunday's runoff by attacking Mr Macri's market-driven economic policies as a throwback, but failed to regain a lead in the polls.