Dissolve the active yeast in 1/4 cup of the water. Stir and let sit for 10 minutes to activate.
Combine sifted flour and salt in the bowl of a stand mixer. Add yeast and the remaining water, and mix on low with the dough hook attachment. Turn speed to medium, and knead dough for 7 minutes. It will come together and dough should hold its shape and be a little sticky.
Place dough in a lightly oiled bowl. Cover bowl with a damp towel. Set in a warm place and let rise until doubled, about an hour.
Roll dough on a lightly floured surface to form a 12” x 15” rectangle size.
Microwave the Nutella for 30-40 seconds to make it easier to spread. Using a rubber spatula, spread in an even layer on the surface of the dough, leaving a 1/2 inch border of dough. Sprinkle the slivered almonds on top of the Nutella and roll tightly and place on a baking sheet lined with a Silpat silicone baking mat or parchment paper. Sprinkle cinnamon on all sides of the rolled dough.
Using a serrated knife, split the dough down the middle, leaving one end intact. Twist ends around each other, making sure to keep cut side facing up. Cover dough with a damp paper towel and let sit 20 minutes.
Preheat oven to 375°F. Brush surface of the bread with the egg wash and sprinkle with finishing sugar. Bake for 24 minutes. Remove from oven, and let cool before serving.