Crumble the yeast into the lukewarm milk, add a pinch of sugar, and let it bloom for 10 minutes.
In a large bowl, combine the flour, sugar, salt, cinnamon, and orange zest.
Add the bloomed yeast, melted butter, and rum to the dry ingredients. Mix and knead until the dough is smooth and elastic.
Cover the dough and let it rise in a warm place for 1-1.5 hours, or until doubled in volume.
Incorporate the dried fruits (raisins, candied orange peel) and almonds into the risen dough, then shape the stollen. Form the dough into a long, oval shape, and fold the two ends slightly inward.
Place the stollen on a baking sheet lined with parchment paper and let it rest for 30 minutes.
Bake in a preheated oven at 350°F (180°C) for 40-45 minutes, or until golden brown. During the last 10 minutes, cover it with aluminum foil to prevent burning.
Let the finished stollen cool completely, then sprinkle the top with powdered sugar.
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