Feb 12 (Reuters) - Australian shares snapped a three-session rally on Monday, with CSL Ltd weighing heavily on the benchmark index, after the biotechnology giant announced a setback in a cardiovascular drug trial.

The S&P/ASX 200 index was trading 0.3% lower at 7,618.70 by 2359 GMT. The benchmark ended 0.1% higher on Friday.

CSL, the priciest stock in the benchmark, slumped as much as 6.2% to A$286.140, its sharpest intraday drop since Oct. 12. It was the top loser in the benchmark index.

The company said its phase 3 trial for a drug meant to reduce risk of major adverse cardiovascular events did not achieve its goals. It added that it does not have plans "for a near-term regulatory filing".

CSL dragged healthcare index up to 4.2% down to its lowest level since mid-October. Other healthcare firms such as Cochlear Ltd and Resmed Inc declined as much as 2.4% and 1.5%, respectively.

Meanwhile, market participants across the globe await Tuesday's U.S. CPI inflation data. A Reuters poll forecasts a marginal uptick in January, which could fuel expectations of the Federal Reserve cutting interest rate in May.

Back in Sydney, miners lost up to 0.7%, with top miners BHP Group and Rio Tinto down 0.4% and 0.9%, respectively.

The energy index dropped 0.7%. Woodside Energy retreated 1.7% while Santos lost 0.1%.

Bucking the trend, the heavyweight financials were marginally up 0.1%. National Australia Bank rose 0.3% while Westpac Banking Corp was up 0.1%.

ANZ Group rose as much as 1.2% to touch its highest level since Feb. 18, 2022, after the lender reported its first-quarter group revenue in line with the quarterly average of its first-half fiscal 2023 revenue.

Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50 index fell 0.6% to 11,797.15.

(Reporting by Neha Soni in Bengaluru; Editing by Rashmi Aich)