This week could be a big one for Years & Years, as their long-awaited second album Palo Santo is in with a shot at the Official Albums Chart Number 1.

The group, led by Olly Alexander, topped the chart for two weeks with their debut, Communion, in July 2015 and in today's Update, follow-up Palo Santo is leading the way. See Years & Years' entire chart history.

Its nearest rival, however, is musical powerhouse The Greatest Showman, whose cast recording has already spent 21 weeks at the top. Also not far behind is Scorpion, last week's Number 1 album from Drake, at 3, and George Ezra's Staying at Tamara's at 4 – this week's chart may turn out to be a close finish.

New Entries and High Climbers

Aside from Years & Years at 1, there are four brand new entries and a number of albums potentially making a return to the Top 40. Bedford-born singer-songwriter Tom Grennan kicks things off – the former footballer's debut album Lighting Matches starts at 5.

In anticipation of the imminent release of its sequel, Mamma Mia mania is getting underway, as the cast recording from the original movie leaps 22 slots to 19 midweek, while Snow Patrol's Wildness is currently heading back up seven places to 22.

Canadian rocker Devin Townsend's live recording of his play-through of 2007 album Ocean Machine – Live at the Ancient – starts at 26, while former Pink Floyd singer and bassist Roger Waters is on track for a Top 30 placing (29) with fourth solo album Is This The Life We Really Want?

Queen's Greatest Hits, the best-selling album of all time, rises 12 spots to re-enter the Top 40 at 34 following their three UK arena shows last week, while Brooklyn band Bodega start at 35 with debut album Endless Scroll.

And finally, potentially returning to the Top 40 this week are Rag'n'Bone Man's Human, up 11 places to 39 on today's Update, and Fleetwood Mac's Rumours sneaks back up two spaces to land at Number 40.