Add first 8 ingredients to the bread machine pan according to the manufacturer's directions. Select dough cycle. When cycle is complete, remove dough from machine. Punch down. Cover; let rest for 10 minutes.

On a lightly floured surface, roll the dough into a 15x10-inch rectangle. Spread with the 1/3 cup chocolate hazelnut spread and sprinkle with hazelnuts.

Starting from a long side, roll up into a spiral; seal edge. Place, seam side down, on a greased large baking sheet. Bring ends together to form a ring. Moisten ends; pinch together to seal ring. Using kitchen scissors or a sharp knife, cut from the outside edge toward center, leaving about 1 inch attached. Repeat around the edge at 1-inch intervals. Gently turn each slice slightly so the same side of all slices faces upward.

Cover and let rise in a warm place for 45 to 60 minutes or until nearly double. Bake in a 350 degree F oven for 30 to 35 minutes or until bread sounds hollow when lightly tapped (the center may be lighter in color). If necessary, loosely cover with foil last 10 minutes to prevent overbrowning. Remove from baking sheet; cool on a wire rack.

In a microwave-safe container heat the 1/4 cup chocolate hazelnut spread on 100 percent power (high) for 30 to 60 seconds or until of drizzling consistency. Drizzle over bread. Makes 16 servings.

Look for chocolate hazelnut spread in the peanut butter or gourmet food section of your supermarket.