Leftist contender Daniel Scioli conceded defeat to pro-market leader Mauricio Macri in Argentina's presidential election Sunday, ending 12 years of rule by the populist Peronist movement.

"By popular will, a new president has been elected: Mauricio Macri," Scioli told supporters. Official results showed Macri with 53.3 percent of the vote to 46.7 percent for Scioli, with 69 percent of votes counted.