Depending on the smoothness of a surface, it will scatter the reflected light in different directions. Look at this picture of the two bottles. One is glass and the other is a wood-like texture. The glass surface is very smooth. So the reflected light is hardly scattered and looks shiny. The woody surface is rough and scatters the light in all directions creating a non-shiny, ‘matte’ surface.
So the highlights on the surface of the object will be a combination of its specularity and glossiness.
Another property that goes somewhat hand in hand with a surface with high specularity and glossiness is it’s ability to reflect it’s surrounding, This property is Reflection.