FT News Briefing Markets surge on Argentine election results
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Oct 28, 2025 
Kira Nugent, Argentina correspondent for the Financial Times, shares insights on the economic impact of President Javier Milei's recent electoral victory. She discusses the surge in Argentina’s currency and bonds alongside investor optimism for pro-market reforms. Tim Bradshaw, global technology correspondent, dives into Apple’s services growth, detailing how its revenue topped $100 billion and what drives this value. He also addresses potential regulatory challenges facing the App Store and how they might affect Apple's ecosystem.
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Merger Wave Returns In The US
- US M&A announcements topped about $80bn in one day across banking, biotech and utilities.
- Lower rates, tariff clarity and a pro-deal Trump administration are reviving mega-deal momentum into 2025.
Markets Cheer Milei's Electoral Mandate
- Argentina's peso and bonds rallied strongly after Javier Milei's party won a landslide election.
- Markets priced the result as increasing Milei's ability to push pro-market reforms and access US support.
Sharp Market Moves After Election
- The peso strengthened about 6% and local stocks jumped after the result, while US-traded Argentine shares rose up to 50%.
- A steep drop in country risk signals investors expect a reduced run on the peso and more appetite for Argentine assets.