Argentina election: Cristina Kirchner's hand-picked candidate falters as opposition forces second round poll

A new and unpredictable political landscape unfolded in Argentina this morning as results from Sunday’s rambunctious presidential election showed the conservative opposition candidate Mauricio Macri strongly outperforming forecasts and forcing a second round of voting next month.

Mr Macri, the Mayor of Buenos Aires, who has pledged to veer sharply away from the populist policies of President Cristina Kirchner de Fernandez, took 34.3 per cent with 97 per cent of the votes counted, within spitting distance of Daniel Scioli of the ruling Peronist party at 36.9 per cent.

Supporters of Mr Scioli had voiced confidence he would beat both Mr Macri and the other main opposition candidate, Sergio Massa, a former Kirchner loyalist who broke away from her to form his own political movement, by a sufficient margin to win outright on Sunday night. Instead he fell very far short and Argentina now faces more weeks of fierce campaigning before a 22 November run-off.

"Argentina needs a change and we are ready to make that happen," Macri told a news conference on Monday, making his first pitch to supporters of Mr Massa, who won 21 per cent, imploring them to come to his camp and thus sound the death knell to the Peronist movement led by Ms Kirchner and her late husband, Nestor Kirchner, before her. Together, they led Argentina for all the last twelve years.

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"We are here to represent you, we are here with humility, with responsibility ... and we ask you to accompany us,” he said. Mr Macri’s showing will encourage foreign investors as well holders of Argentine foreign debt that remains in default. He has promised to try to settle the issue quickly and has similarly hinted at a softer line on the status of the Falkland Islands with Britain.

If elected, Mr Macri would be expected swiftly to undo much of Ms Kirchner’s legacy economic policies, including protectionist import measures, crippling export taxes, currency controls, levels of welfare support that have become unsustainable with a 7 per cent budget deficit and the nationalization of pensions funds and as well as the national airline and YPF, the energy giant.

Gambling that voters would be afraid of rapid change, notably after Argentina’s 2000-2002 economic meltdown, Mr Scioli was offering a more “gradualist” platform with more timid steps to deal with the imbalances including the outstanding debt, which bars the country from international debt markets, and an out-of-kilter currency that is ripe for a devaluation.

“We have two very different visions” he acknowledged addressing supporters on Sunday evening. “If it were up to Macri, we wouldn’t have universal benefits for children, YPF nor Aerolineas Argentinas. United together we will triumph. I call upon the undecided and independent voters to join this cause.”

Among those delighted with the outcome was Martin Barrantes, 43, a polo horse breeder, who voted for Mr Macri but had not expected him to do so well. “I am very surprised because I thought that the ruling Victory Front party would be protected by all the media apparatus out there to support them.” He added: “I think the biggest loser is Ms Kirchner. She chose Scioli and this is a big loss for her.”

Also surprised, but disappointed, was Marie Benedetti, 48, who cleans a residential apartment building in the posh Recoleta neighbourhood of the capital. “Macri is just for the rich people and the business people,” she said, leaning on a broom. But she seemed almost resigned that he may now win next month. “I prefer that whoever wins in the end does what is right for this country. Party doesn’t matter.”