[Arkady]

Gloss gives better quality images and good colour saturation, but is suscptible to fingerprints - matt looks a bit dull and any textured paper (although very popular) is equally naff.

The reason? Imagine a very close-up shot of the paper's surface. The gloss paper is smooth, allowing the light transmitted by the enlarger head (or digital printer) unhindered access to the emulsion layers beneath the outer polyester protective layer.
Matt and Lustre paper is rough and uneven when viewed close-up, those little bumps and ridges diffuse and refract the light coming in, causing a (very slight) spreading of that light, resulting in a slightly softer image than the gloss paper.

If the prints are going to be used for reproduction, use matt, as it's easier to copy without annoying reflections.
If it's for Happy Snaps that will be passed around a lot, use Lustre.
If it's for framing and won't be handled by grubby mitts, use Gloss.